- James M. Buchanan
names=James McGill Buchanan, Jr.
birth_date=birth date and age|mf=yes|1919|10|03
Public choice theory
James McGill Buchanan, Jr. (born October 3, 1919) is an American
economistrenowned for his work on public choice theory, for which he won the 1986 Nobel Prize in Economics. Buchanan's work opened the door for the examination of how politicians' self-interest and non-economic forces affect government economic policy.
Buchanan graduated from Middle Tennessee Normal School in 1940. He completed his M.S. from the
University of Tennesseein 1941 and his Ph.D. from the University of Chicagoin 1948.
Buchanan has long been a professor at
George Mason University, and is a central figure in the Virginia school of political economy. Buchanan also held teaching positions at the University of Virginia(founding the Thomas Jefferson center), UCLA, Florida State University, the University of Tennessee, and the Virginia Polytechnic Institute(with the "Center for the Study of Public Choice"] ). Buchanan moved with the center to its new home at GMU.Buchanan's work in economics included a rigorous analysis of the theory of logrolling.
Buchanan's book, "
The Calculus of Consent" (1962), co-authored with Gordon Tullock, is considered one of the classic works that founded the discipline of public choice, a melding of economicsand political science. In particular (1962, p. v), the book is about the political organization of a free society. Buchanan writes that its method, conceptual apparatus, and analytics:
[A] re derived, essentially, from the discipline that has as its subject the economic organization of such a society.
"The Calculus of Consent" argues that government decisions are part of the economy, not exogenous factors. Therefore, methods of collective decisions must be studied as part of the study of the public sector. "Calculus" further describes the constitution as the line that is drawn between private and
collective action. Public choice is then divided between pre- and post-constitutional phases.
Buchanan has also written extensively on the theory of the fiscal constitution. His work "The Power to Tax: Analytical Foundations of a Fiscal Constitution" (with
Geoffrey Brennan) was ground breaking on how fiscal decisions are made. Buchanan's writings have also challenged traditional assumptions about the role of self interest in political decision making.
Public Choice theory has evolved into two branchesndash a normative branch which attempts to derive principles of an appropriately organized set of public decisions, and a positivist branch which attempts to develop predictive theories of behavior.
List of publications
* [http://www.econlib.org/library/Buchanan/buchCContents.html "The Collected Works of James M. Buchanan"] by James M. Buchanan, at the [http://www.econlib.org Library of Economics and Liberty] . Multi-volume work; copyrighted but free to read and access; fully searchable online. Includes:
* [http://www.econlib.org/library/Buchanan/buchCv2Contents.html "Public Principles of Public Debt: A Defense and Restatement,"] by James M. Buchanan, at the Library of Economics and Liberty
* [http://www.econlib.org/library/Buchanan/buchCv3Contents.html "The Calculus of Consent: Logical Foundations of Constitutional Democracy,"] by James M. Buchanan and Gordon Tullock, at the Library of Economics and Liberty
* [http://www.econlib.org/library/Buchanan/buchCv4Contents.html "Public Finance in Democratic Process: Fiscal Institutions and Individual Choice,"] by James M. Buchanan, at the Library of Economics and Liberty
* [http://www.econlib.org/library/Buchanan/buchCv5Contents.html "The Demand and Supply of Public Goods,"] by James M. Buchanan, at the Library of Economics and Liberty
* [http://www.econlib.org/library/Buchanan/buchCv6Contents.html "Cost and Choice: An Inquiry in Economic Theory,"] by James M. Buchanan, at the Library of Economics and Liberty
* [http://www.econlib.org/library/Buchanan/buchCv7Contents.html "The Limits of Liberty: Between Anarchy and Leviathan,"] by James M. Buchanan, at the Library of Economics and Liberty
* [http://www.econlib.org/library/Buchanan/buchCv8Contents.html "Democracy in Deficit: The Political Legacy of Lord Keynes,"] by James M. Buchanan and
Richard E. Wagner, at the Library of Economics and Liberty
* [http://www.econlib.org/library/Buchanan/buchCv9Contents.html "The Power to Tax: Analytical Foundations of a Fiscal Constitution,"] by Geoffrey Brennan and James M. Buchanan, at the Library of Economics and Liberty
* [http://www.econlib.org/library/Buchanan/buchCv10Contents.html "The Reason of Rules: Constitutional Political Economy,"] by Geoffrey Brennan and James M. Buchanan, at the Library of Economics and Liberty
*"Why I, Too, Am Not a Conservative: The Normative Vision of Classical Liberalism" (2006)
* Kasper, Sherryl. "The Revival of Laissez-Faire in American Macroeconomic Theory: A Case Study of Its Pioneers" (2002) ch 6
Public Choice Theory
*"The Trap" (TV Documentary Series) Buchanan features in "The Trap", a BBC documentary.
* [http://www.gmu.edu/jbc/faculty_bios/buchananbio.html Biography at GMU]
* [http://www.econlib.org/library/Enc/bios/Buchanan.html Biography of James M. Buchanan] at the "Concise Encyclopedia of Economics"
* [http://ideas.repec.org/e/pbu16.html IDEAS/RePEc]
Wikimedia Foundation. 2010.
Look at other dictionaries:
James M. Buchanan — James McGill Buchanan Jr. (* 3. Oktober 1919 in Murfreesboro, Tennessee) ist Träger des Nobelpreises für Wirtschaftswissenschaften des Jahres 1986. Sein Lebenswerk ist die Erarbeitung einer ökonomischen Theorie des Staates. Er gilt als einer der… … Deutsch Wikipedia
James McGill Buchanan — James M. Buchanan Pour les articles homonymes, voir Buchanan. James McGill Buchanan Jr. (né le 3 octobre 1919) est un économiste américain qui a reçu le « prix Nobel » d économie en 1986 pour le développement de la théorie du choix… … Wikipédia en Français
James S. Buchanan — James Shannon Buchanan (October 14 1864 mdash; March 20 1930) was the fourth president of the University of Oklahoma.Buchanan was born in 1864 to Thomas and Rebecca Jane in Franklin, Tennessee. His grandfather, Major John Buchanan, was one of the … Wikipedia
James M. Buchanan — Pour les articles homonymes, voir Buchanan. James McGill Buchanan Jr. (né le 3 octobre 1919 … Wikipédia en Français
James McGill Buchanan — Jr. (* 3. Oktober 1919 in Murfreesboro, Tennessee) ist Träger des Nobelpreises für Wirtschaftswissenschaften des Jahres 1986. Seine Arbeiten, insbesondere zur Public Choice Theory, sind interdisziplinär angelegt und hatten Einfluss in die… … Deutsch Wikipedia
James P. Buchanan — James Paul Buchanan (30 April 1867 22 February 1937) served as U.S. Representative from the 10th district of Texas from 1913 until his death on 22 February 1937. He was the chair of the Appropriations committee from 1933 on.Buchanan Dam and the… … Wikipedia
James M. Buchanan — James McGill Buchanan (nacido en Murfreesboro, estado de Tennessee, el 3 de octubre de 1919) es un economista estadounidense considerado el máximo representante de la teoría de la elección pública (Public choice), que trata de ligar la economía… … Wikipedia Español
James M. Buchanan — (nacido en Murfreesboro, el 3 de octubre de 1919) es un economista estadounidense considerado el máximo representante de la teoría de la Elección Pública (Public Choice), que trata de ligar la economía con la política a través del Estado,… … Enciclopedia Universal
James M. Buchanan Jr. — An American economist and winner of the 1986 Nobel Memorial Prize in Economics for his contributions to public choice theory. Born in Tennessee in 1919, Buchanan Jr. earned his Ph.D. from the University of Chicago and has taught at Virginia… … Investment dictionary
Wirtschaftsnobelpreis 1986: James McGill Buchanan — seine bahnbrechenden Forschungsarbeiten auf dem Gebiet der ökonomischen Theorie der Politik ausgezeichnet. Biografie James McGill Buchanan, * Murfreesboro (Tennessee) 2. 10. 1919; 1956 68 Professur an der University of Virginia, 1968 69… … Universal-Lexikon