No, the Chicago monetarists and neoliberals have never been right. Their dogma, and that entire school, is literally the creation of the banker class who got together after WWII because they didn't want to see Western civilisation degenerate into (the horror...) social democracy.

They're the source of all of decades of nonsense about "small government" and "inefficiency" and "rational markets."

They pretended to be liberal, and they were fervently anti-communist.

But they've always been primarily about the protection and promotion of private monopoly and aristocratic privilege. And influences like von Mises were more than fascist-adjacent.

See the Mont Pelerin Society for a partial history.