================= HES POSTING ========================= Call it a revolution or not, big changes in the way economics was done were taking place in the years surrounding World War II. The "revolution" was spread over different areas of economics. Some of the initiatives failed, such as the empirical program at the Cowles Commission, but they certainly left their marks. The Chicago attempt at "counter-revolution" began with Milton Friedman's brief review (1941) of Robert Triffin's _Monopolistic Competition and General Equilibrium Theory_. Triffin argued that monopolistic competition was born in the Marshallian framework but was growing up in the Walrasian framework, and this was an important step in "the historical process of purification and formalization of economics." Friedman defended Marshallian industries, which were being thrown overboard. Later George Stigler joined the defense with his University of London lecture (_Five Lectures on Economic Problems_, 1949). For the rest of this story see chapter 2 of my _Theory and Measurement_(1996). Dan Hammond Department of Economics Wake Forest University Winston-Salem, NC 27109 Phone: 910-759-5335 FAX: 910-759-6028 ============ FOOTER TO HES POSTING ============ For information, send the message "info HES" to [log in to unmask]