U of C’s John Cochrane takes on the profs who wrote the anti-MFI letter here. It’s both an entertaining rant and a logical, point-by-point refutation, a rare feat.

My favorite part:

“Many colleagues are distressed by the notoriety of the Chicago School of Economics, especially throughout much of the global south, where they have often to defend the University’s reputation in the face of its negative image.”
If you’re wondering “what’s their objection?”, “how does a MFI hurt them?” you now have the answer. Translated, “when we go to fashionable lefty cocktail parties in Venezuela, it’s embarrassing to admit who signs our paychecks.” Interestingly, the hundred people who signed this didn’t have the guts even to say “we,” referring to some nebulous “they” as the subject of the sentence. Let’s read this literally: “We don’t really mind at all if there’s a MFI on campus, but some of our other colleagues, who are too shy to sign this letter, find it all too embarrassing to admit where they work.” If this is the reason for organizing a big protest perhaps someone has too much time on their hands.

Hat tip: Marginal Revolution.