Chicago (i/ʃɪˈkɑːɡoʊ/ or /ʃɪˈkɔːɡoʊ/) is the largest city in the US state of Illinois and the third most populous city in the United States after New York City and Los Angeles. The city has around 2.7 million residents. Its metropolitan area, sometimes called "Chicagoland", is the third largest in the United States, with an estimated 9.8 million people. Chicago is the county seat of Cook County, though a small portion also extends into DuPage County.
Chicago was incorporated as a city in 1837, near a portage between the Great Lakes and the Mississippi River watershed. Today, Chicago is listed as an alpha+ global city by the Globalization and World Cities Research Network, and ranks seventh in the world on the 2012 Global Cities Index. The city retains its status as an international hub for finance, industry, telecommunications and infrastructure, with O'Hare International Airport being the second busiest airport in the world in terms of traffic movements. In 2008[update], the city hosted 45.6 million domestic and overseas visitors. Among metropolitan areas, Chicago has the 4th largest Gross Domestic Product (GDP) in the world, ranking just behind Tokyo, New York City, and Los Angeles. Chicago is one of the most important Worldwide Centers of Commerce and trade.
Milton Friedman (July 31, 1912 – November 16, 2006) was an American economist, statistician, and author who taught at the University of Chicago for more than three decades. He was a recipient of the Nobel Memorial Prize in Economic Sciences, and is known for his research on consumption analysis, monetary history and theory, and the complexity of stabilization policy. As a leader of the Chicago school of economics, he influenced the research agenda of the economics profession. A survey of economists ranked Friedman as the second most popular economist of the twentieth century behind John Maynard Keynes, and The Economist described him as "the most influential economist of the second half of the 20th century…possibly of all of it."
Friedman's challenges to what he later called "naive Keynesian" (as opposed to New Keynesian) theory began with his 1950s reinterpretation of the consumption function, and he became the main advocate opposing activist Keynesian government policies. In the late 1960s he described his own approach (along with all of mainstream economics) as using "Keynesian language and apparatus" yet rejecting its "initial" conclusions. During the 1960s he promoted an alternative macroeconomic policy known as "monetarism". He theorized there existed a "natural" rate of unemployment, and argued that governments could increase employment above this rate (e.g., by increasing aggregate demand) only at the risk of causing inflation to accelerate. He argued that the Phillips curve was not stable and predicted what would come to be known as stagflation. Friedman argued that, given the existence of the Federal Reserve, a constant small expansion of the money supply was the only wise policy.
Elena Poniatowska (born 1932) is one of Mexico’s best known journalists and authors, specializing in works on social and political issues focused on those considered to be disenfranchised especially women and the poor. She was born in Paris to upper class parents, including her mother whose family fled Mexico during the Mexican Revolution. She left France for Mexico when she was ten to escape the Second World War. When she was eighteen and without a university education, she began writing for the newspaper Excélsior, doing interviews and society columns. Despite the lack of opportunity for women from the 1950s to the 1970s, she evolved to writing about social and political issues in newspapers, books in both fiction and nonfiction form. Her best known work is La noche de Tlatelolco (Massacre in Mexico) about the repression of the 1968 student protests in Mexico City. Despite the lack of international recognition, she is considered to be “Mexico’s grande dame of letters” and is still an active writer.