"The mathematical equilibrium models of the Chicago School disregard the ability to learn and the freedom of decision of the individual, his 'marginal actions' wherever there is change—indeed, the actions of real people. They fail to see that each individual person has the freedom to make his or her own free choices ... and they do.

Here, they contrast with the Austrian School around Carl Menger and Ludwig von Mises, which does not reduce people to mere objects influenced by material factors."

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