The Chicago Boys were a group of Chilean economists prominent around the 1970s and 80s, the majority of whom trained at the Department of Economics of which organization, under Milton Friedman, was an American economist who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory, and the complexity of stabilization policy?
University of Chicago
Chicago Boys
The Chicago Boys were a group of Chilean economists prominent around the 1970s and 80s, the majority of whom trained at the Department of Economics of the University of Chicago under Milton Friedman and Arnold Harberger, or at its affiliate in the economics department at the Pontifical Catholic University of Chile.
 Upon their return to Latin America they adopted positions in numerous South American governments as economic advisors, many of them reaching high positions.
 The Heritage Foundation credits them with transforming Chile into Latin America's best performing economy and one of the world's most business-friendly jurisdictions.
 However, critics point to drastic increases in unemployment that can be attributed to policies implemented on their advice to fight inflation.
 Some (such as Nobel laureate Amartya Sen) have argued that these policies were deliberately intended to serve the interests of American corporations at the expense of Latin American populations.
 Peter Kornbluh states that in the case of Chile, American attempts to influence the Chilean economy ceased once the Chicago Boys had gained political influence; this may have been the true underlying cause of the subsequent increase in economic growth.
Milton Friedman
Milton Friedman ( ; July 31, 1912 – November 16, 2006) was an American economist who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory, and the complexity of stabilization policy.
 With George Stigler and others, Friedman was among the intellectual leaders of the second generation of Chicago price theory, a methodological movement at the University of Chicago's Department of Economics, Law School, and Graduate School of Business from the 1940s onward.
 Several students and young professors that were recruited or mentored by Friedman at Chicago went on to become leading economists; they include Gary Becker, Robert Fogel, Thomas Sowell, and Robert Lucas, Jr.
Robert Solow
Robert Merton Solow, GCIH ( ; born August 23, 1924), is an American economist, particularly known for his work on the theory of economic growth that culminated in the exogenous growth model named after him.
 He is currently Emeritus Institute Professor of Economics at the Massachusetts Institute of Technology, where he has been a professor since 1949.
 He was awarded the John Bates Clark Medal in 1961, the Nobel Memorial Prize in Economic Sciences in 1987, and the Presidential Medal of Freedom in 2014.
 Three of his PhD students, George Akerlof, Joseph Stiglitz, and Peter Diamond, later received Nobel Memorial Prizes in Economic Sciences in their own right. Mont Pelerin Society
The Mont Pelerin Society (MPS) is an international organization composed of economists (including eight winners of the Nobel Memorial Prize in Economic Sciences), philosophers, historians, intellectuals, business leaders, and others committed to their understanding of personal and political freedom.
 Its founders included Friedrich Hayek, Frank Knight, Karl Popper, Ludwig von Mises, George Stigler, and Milton Friedman.
 The society advocates freedom of expression, free market economic policies, the political values of an open society.
 The members see the Society as an effort to interpret in modern terms the fundamental principles of economic society as expressed by those classical economists, political scientists, and philosophers who have inspired many in Europe, America and throughout the Western World. James Tobin
James Tobin (March 5, 1918 – March 11, 2002) was an American economist who served on the Council of Economic Advisers and the Board of Governors of the Federal Reserve System, and taught at Harvard and Yale Universities.
 He developed the ideas of Keynesian economics, and advocated government intervention to stabilize output and avoid recessions. His academic work included pioneering contributions to the study of investment, monetary and fiscal policy and financial markets.
 He also proposed an econometric model for censored endogenous variables, the well-known "Tobit model".
 Tobin received the Nobel Memorial Prize in Economic Sciences in 1981. Lawrence Klein
Lawrence Robert Klein (September 14, 1920 – October 20, 2013) was an American economist.
 For his work in creating computer models to forecast economic trends in the field of econometrics in the Department of Economics at the University of Pennsylvania, he was awarded the Nobel Memorial Prize in Economic Sciences in 1980 specifically "for the creation of econometric models and their application to the analysis of economic fluctuations and economic policies."
 Due to his efforts, such models have become widespread among economists. Harvard University professor Martin Feldstein told the Wall Street Journal that Klein "was the first to create the statistical models that embodied Keynesian economics," tools still used by the Federal Reserve Bank and other central banks. Paul Samuelson
Paul Anthony Samuelson (May 15, 1915 – December 13, 2009) was an American economist and the first American to win the Nobel Memorial Prize in Economic Sciences.
 The Swedish Royal Academies stated, when awarding the prize in 1970, that he "has done more than any other contemporary economist to raise the level of scientific analysis in economic theory".
 Economic historian Randall E. Parker calls him the "Father of Modern Economics", and "The New York Times" considered him to be the "foremost academic economist of the 20th century". John Bates Clark Medal
The John Bates Clark Medal is awarded by the American Economic Association to "that American economist under the age of forty who is adjudged to have made a significant contribution to economic thought and knowledge".
 According to "The Chronicle of Higher Education", it "is widely regarded as one of the field’s most prestigious awards...second only to the Nobel Memorial Prize in Economic Sciences."
 The award was made biennially until 2007, but from 2009 is now awarded every year because many deserving went unawarded.
 The committee cited economists such as Edward Glaeser and John A. List in campaigning that the award should be annual.
 The award is named after the American economist John Bates Clark (1847–1938).
 Following an average wait of 22 years, approximately 30% of past Medal winners have gone on to win the Nobel, presented annually since 1969 at the Nobel Prize Award Ceremony in Stockholm.
 Moreover, 11 of the first 17 awardees (approximately 65%) went on to win the Nobel. Joseph Stiglitz
Joseph Eugene Stiglitz ( ; born February 9, 1943) is an American economist and a professor at Columbia University.
 He is a recipient of the Nobel Memorial Prize in Economic Sciences (2001) and the John Bates Clark Medal (1979).
 He is a former senior vice president and chief economist of the World Bank and is a former member and chairman of the (US president's) Council of Economic Advisers.
 He is known for his support of Georgist public finance theory and for his critical view of the management of globalization, of "laissez-faire" economists (whom he calls "free market fundamentalists"), and of international institutions such as the International Monetary Fund and the World Bank. Miracle of Chile
The “Miracle of Chile” was a term used by Nobel laureate economist Milton Friedman to describe the reorientation of the Chilean economy in the 1980s and the benefits of the economic policies applied by a large group of Chilean economists who collectively came to be known as the Chicago Boys, having studied at the University of Chicago where Friedman taught.
 He said the “Chilean economy did very well, but more importantly, in the end the central government, the military junta, was replaced by a democratic society.
 So the really important thing about the Chilean business is that free markets did work their way in bringing about a free society.”
 The junta to which Friedman refers was a military government that came to power in a 1973 coup d'état, which came to an end in 1990 after a democratic 1988 plebiscite removed Augusto Pinochet from the presidency.