James M. Buchanan
Sign in to saveAmerican economist, recipient of the Nobel Memorial Prize for Economics (1919–2013)
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James M. Buchanan was an American economist who won the Nobel Memorial Prize in Economics and developed influential theories about how political decisions are made from an economic perspective. His work matters because it fundamentally changed how people understand the relationship between economics and politics by applying economic analysis to government and public choice.
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Person · Open Library
- Born
- 1919
- Died
- 2013
- Works
- 86
Top works
- Fiscal equity in a federal state
- The economists' vision
- Ethik des Kapitalismus
- Die Begrundung Von Regeln
- Calculus of Consent
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Article
James McGill Buchanan Jr. (/bjuːˈkænən/ bew-KAN-ən; October 3, 1919 – January 9, 2013) was an American economist known for his work on public choice theory originally outlined in his most famous work, The Calculus of Consent, co-authored with Gordon Tullock in 1962. He continued to develop the theory, eventually receiving the Nobel Memorial Prize in Economic Sciences in 1986.
Buchanan's work initiated research on how politicians' and bureaucrats' self-interest, utility maximization, and other non-wealth-maximizing considerations affect their decision-making. He was a member of the Board of Advisors of The Independent Institute as well as of the Institute of Economic Affairs, a member of the Mont Pelerin Society (MPS) and MPS president from 1984 to 1986, a Distinguished Senior Fellow of the Cato Institute, and professor at George Mason University.
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1919 births2013 deaths20th-century American economists20th-century American non-fiction writers21st-century American economists21st-century American non-fiction writersAmerican libertariansAmerican Nobel laureatesAmerican people of Scotch-Irish descentAmerican political philosophersAustrian School economistsCato Institute people