The University of Chicago has recently announced the creation of a Milton Friedman Institute. I think David Warsh, as usual, got it right when he reads this move in the context of the academic race for resources:
The allocation of resources among the departments of a university is a perennially sensitive matter, and the institute would give Chicago economists (and, to some extent, their crosstown compatriots at Northwestern University) a large source of off-balance-sheet funding for visiting scholars, post-docs, and researchers. In other words, it might confer the same out-of-sight advantages as does the presence of the National Bureau of Economic Research in Cambridge, Mass., for Harvard and MIT.
To siphon the cash, Chicago needs a recognized and alluring brand. Enter FriedmanTM, like margarine, universally loved and hated.
The final report, see here, arguing for the creation of the Institute states:
This connection of the proposed institute to the legacy of Milton Friedman’s intellectual contributions provides a special opportunity to recognize the distinguished place held by Friedman at Chicago and throughout the world.
But like anything worth having, there is a competition for it. An industry has arisen around the name and legacy Friedman, there is Free to Choose Media, there is even a Milton Friedman Day. And like any rock star, Friedman will become the T-shirt, the poster, and the merchandising.