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Buchanan is the founder of a new [[Virginia school of political economy]]. He taught at the [[University of Virginia]], where he founded the [[Thomas Jefferson Center for the Protection of Free Expression]]; [[UCLA]]; [[Florida State University]]; the [[University of Tennessee]]; and the [[Virginia Polytechnic Institute]] ("Virginia Tech"), where he was affiliated with the Center for the Study of Public Choice (CSPC). In 1983, he followed CSPC to its new home at [[George Mason University]].<ref name=Mitchell1988>{{cite journal |author=William C. Mitchell |year=1988 |title=Virginia, Rochester, and Bloomington: Twenty-Five Years of Public Choice and Political Science |journal=Public Choice |volume=56 |issue=2 |pages=101–119 |doi=10.1007/BF00115751 }}</ref> In 2001 Buchanan was honoured with an honorary doctoral degree at [[Universidad Francisco Marroquín]] <ref>[https://www.ufm.edu/cms/es/honorary-doctoral-degrees Honorary Doctoral Degrees at [[Universidad Francisco Marroquín]]]</ref> due his contribution to economic theory.
Buchanan is the founder of a new [[Virginia school of political economy]]. He taught at the [[University of Virginia]], where he founded the [[Thomas Jefferson Center for the Protection of Free Expression]]; [[UCLA]]; [[Florida State University]]; the [[University of Tennessee]]; and the [[Virginia Polytechnic Institute]] ("Virginia Tech"), where he was affiliated with the Center for the Study of Public Choice (CSPC). In 1983, he followed CSPC to its new home at [[George Mason University]].<ref name=Mitchell1988>{{cite journal |author=William C. Mitchell |year=1988 |title=Virginia, Rochester, and Bloomington: Twenty-Five Years of Public Choice and Political Science |journal=Public Choice |volume=56 |issue=2 |pages=101–119 |doi=10.1007/BF00115751 }}</ref> In 2001 Buchanan was honoured with an honorary doctoral degree at [[Universidad Francisco Marroquín]] <ref>[https://www.ufm.edu/cms/es/honorary-doctoral-degrees Honorary Doctoral Degrees at [[Universidad Francisco Marroquín]]]</ref> due his contribution to economic theory.


Buchanan's work includes extensive writings on public finance, the public debt, voting, rigorous analysis of the theory of [[logrolling]], macroeconomics, [[constitutional economics]] and libertarian theory.
Buchanan's work includes extensive writings on public finance, the public debt, voting, rigorous analysis of the theory of [[logrolling]], macroeconomics, [[constitutional economics]].<ref>Peter Barenboim, Natalya Merkulova. "[http://philosophicalclub.ru/content/docs/worldruleoflaw.pdf The 25th Anniversary of Constitutional Economics: The Russian Model and Legal Reform in Russia, in The World Rule of Law Movement and Russian Legal Reform]", edited by Francis Neate and Holly Nielsen, Justitsinform, Moscow (2007).</ref>
and libertarian theory.


==Approach to economic analysis==
==Approach to economic analysis==

Revision as of 23:31, 23 July 2011

For other people named James Buchanan, see James Buchanan (disambiguation).
James M. Buchanan
James Buchanan at a panel discussion on his contributions to social philosophy and political economy in September 2010.
Born (1919-10-03) October 3, 1919 (age 105)
Murfreesboro, Tennessee
Nationality United States
Academic career
FieldPublic choice
InstitutionGeorge Mason University
University of Virginia
School or
tradition		George Mason University Department of Economics
Alma materUniversity of Chicago
University of Tennessee
State Teachers College, Murfreesboro
InfluencesFrank Knight
Knut Wicksell
ContributionsPublic choice theory
AwardsNobel Memorial Prize in Economic Sciences (1986)
Information at IDEAS / RePEc
Part of a series on the
Chicago school
of economics
Movements
Organizations
Beliefs
People
Theories
Ideas
Related topics

James McGill Buchanan, Jr. (born October 3, 1919) is an American economist known for his work on public choice theory, for which he received the 1986 Nobel Memorial Prize in Economic Sciences. Buchanan's work initiated research on how politicians' self-interest and non-economic forces affect government economic policy. He is a Distinguished Senior Fellow of the Cato Institute.

Biography

Buchanan graduated from Middle Tennessee State Teachers College, now known as Middle Tennessee State University, in 1940. Buchanan, along with Nobel Prize-winning economist Muhammad Yunus, each attended Middle Tennessee State University as either a student or a teacher. Buchanan completed his M.S. from the University of Tennessee in 1941. He spent the war years on the staff of Admiral Nimitz in Honolulu, and it is during that time he met and married his wife Anne.

Buchanan received his Ph.D. from the University of Chicago in 1948, where he was much influenced by Frank H. Knight. It was also at Chicago that he read for the first time and found enlightening the work of Knut Wicksell. Photographs of Knight and Wicksell have hung from his office-walls ever since.

Buchanan is the founder of a new Virginia school of political economy. He taught at the University of Virginia, where he founded the Thomas Jefferson Center for the Protection of Free Expression; UCLA; Florida State University; the University of Tennessee; and the Virginia Polytechnic Institute ("Virginia Tech"), where he was affiliated with the Center for the Study of Public Choice (CSPC). In 1983, he followed CSPC to its new home at George Mason University.[1] In 2001 Buchanan was honoured with an honorary doctoral degree at Universidad Francisco Marroquín [2] due his contribution to economic theory.

Buchanan's work includes extensive writings on public finance, the public debt, voting, rigorous analysis of the theory of logrolling, macroeconomics, constitutional economics.[3] and libertarian theory.

Approach to economic analysis

Buchanan's important contribution to constitutionalism is his development of the sub-discipline of constitutional economics.[4] Buchanan rejects "any organic conception of the state as superior in wisdom, to the citizens of this state." This philosophical position forms the basis of constitutional economics. Buchanan believes that every constitution is created for at least several generations of citizens. Therefore, it must be able to balance interests of the state, society, and each individual.[5]

List of publications

See also

Notes

  1. ^ William C. Mitchell (1988). "Virginia, Rochester, and Bloomington: Twenty-Five Years of Public Choice and Political Science". Public Choice. 56 (2): 101–119. doi:10.1007/BF00115751.
  2. ^ Honorary Doctoral Degrees at Universidad Francisco Marroquín
  3. ^ Peter Barenboim, Natalya Merkulova. "The 25th Anniversary of Constitutional Economics: The Russian Model and Legal Reform in Russia, in The World Rule of Law Movement and Russian Legal Reform", edited by Francis Neate and Holly Nielsen, Justitsinform, Moscow (2007).
  4. ^ menu, Library of Economics and Liberty., 1990. "The Domain of Constitutional Economics," Constitutional Political Economy, 1(1), pp. 1-18. Also as at 1990b & [1].
  5. ^ Buchanan, J., Logical Formulations of Constitutional Liberty, Vol. 1, Indianapolis, 1999, p. 372.

References

  • Kasper, Sherryl. The Revival of Laissez-Faire in American Macroeconomic Theory: A Case Study of Its Pioneers (2002) ch 6
  • Buchanan, James M. Better than Plowing and Other Personal Essays (Chicago: University of Chicago Press, 1992)
  • Pittard, Homer. The First Fifty Years (Murfreesboro, TN: Middle Tennessee State College, 1961) pp. 136,173
  • Anthony B. Atkinson, 'James M. Buchanan's Contributions to Economics', The Scandinavian Journal of Economics, 1987, Vol. 89, No. 1, pp. 5–15.

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