Buchanan on externalities: An exercise in applied subjectivism
AbstractBuchanan's work on the methodology of economics includes many references to externalities. Buchanan has emphasized that a subjective conception of economics, and a focus put on exchange rather than on choice, has implications on an analysis of externalities. In this paper, we analyze the reverse claim: Buchanan's views on externalities are a perfect illustration of his plea for subjectivism in economics, and the need to focus on economics-as-a-science-of exchange. We show that Buchanan's treatment of externalities was a “laboratory” for his claims and arguments about subjectivism.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Behavior & Organization.
Volume (Year): 80 (2011)
Issue (Month): 2 ()
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Web page: http://www.elsevier.com/locate/jebo
Subjectivism; Objectivism; Choice; Exchange; Buchanan; Externalities;
Find related papers by JEL classification:
- B21 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Microeconomics
- B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
- B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
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