James M. Buchanan Quotes


It is much more difficult to get implemented politically what might be desirable economically. Even if you came out with an economic argument in favor of equalization - and I think there are arguments on both sides - I would still come down in favour of some sort of a scheme on strict economic grounds.


Citations

Buchanan, James M. "Interview with James M. Buchanan." Frontier Centre for Public Policy, 2002.

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James M. Buchanan
James M. Buchanan
  • Born: October 3, 1919
  • Died: January 9, 2013
  • Nationality: American
  • Profession: Economist

James McGill Buchanan Jr. was an American economist known for his work on public choice theory (included in his most famous work, co-authored with Gordon Tullock, The Calculus of Consent, 1962), for which he received 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 (and for a time president) of the Mont Pelerin Society, a Distinguished Senior Fellow of the Cato Institute, and professor at George Mason University.