While original Chicago School liberals like Simons insisted that the courts apply clear criteria—the rule of the law—rather than the vague rule of reason, the emerging neoliberal law and economics doctrine—developed by MPS member Henry G. Manne and financed by the Olin Foundation (compare Miller 2006)—demanded an entirely new approach. This new approach was at odds with the neoliberal emphasis on the rule of law: judges should instead be educated to apply a rule of (neoliberal) economic reason perspective.

Philip Mirowski & Dieter Plehwe (eds.), The Road from Mont Pèlerin, loc. 158