On closer examination, however, even at their most technical, the Chicago economists were deeply aware of the non-economic prerequisites for their preferred market order. If romanticism and dema-goguery were the greatest barriers to 'good economics', a working market order required market subjects responsible for their own fates. The Chicago economists were also aware that the market did not create its own virtues. Röpke had argued that invocations of an invisible hand obscured the fact that the 'market economy needs a firm moral, political and institutional framework', including 'well weighed laws appropriate to the economic system'. For Friedman, achieving such a market-compatible framework was the junta's political miracle.

Jessica Whyte, The Morals of the Market, loc. 333