Hayek's reassurance must have lifted Director's spirits, for he replied promptly, informing Hayek that he would agree to accept the five-year post without promise of tenure. Director then pledged his allegiance to Hayek: "I need not assure you that I consider your project of the greatest importance, or of my permanent interest in the issues at stake. You know the source of my hesitation. Henry's death has of course accentuated this." Thus, we observe that Hayek played the instrumental role in persuading Director to go to Chicago and in making the Volker project happen; furthermore, Friedman did not play any equivalent role. Director had written Hayek: "Milton Friedman may be in touch with you. I talked with him briefly; he is no longer as enthusiastic as he was, it may be because of his reaction to the practical implications for me." This action, we argue, demonstrates Hayek's indispensable and pivotal role in the creation of the Chicago School.

Philip Mirowski & Dieter Plehwe (eds.), The Road from Mont Pèlerin, loc. 753