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From subjectivism to constitutionalism: the intellectual journey of James M. Buchanan through his Italian heroes

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  • Giuseppe Eusepi

    (Sapienza University of Rome)

Abstract

Based primarily on personal conversations with James M. Buchanan, this paper outlines three fundamental aspects of the Italian tradition found in Buchanan’s scholarship. The first is the particular emphasis on the role of the state. The second is the analysis of subjective cost. The third is the application of subjective cost to democratic public finance. This paper will focus on the latter two aspects, concentrating on two pioneering works on which Buchanan grounded two of his most important books written during the first part of his long career. The first is Public Principles of Public Debt, which profoundly was influenced by de Viti de Marco, the second is Cost and Choice, wherein along with de Viti de Marco, we find themes echoing Francesco Ferrara.

Suggested Citation

  • Giuseppe Eusepi, 2020. "From subjectivism to constitutionalism: the intellectual journey of James M. Buchanan through his Italian heroes," Public Choice, Springer, vol. 183(3), pages 273-285, June.
    • Handle: RePEc:kap:pubcho:v:183:y:2020:i:3:d:10.1007_s11127-020-00806-5
    DOI: 10.1007/s11127-020-00806-5
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    References listed on IDEAS

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    1. Eusepi, Giuseppe, 1987. "General Implications of Subjectivism and Dynamics in Buchanan’s Works," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 40(1), pages 55-66.
    2. Eusepi Giuseppe, 1991. "Before And After “Cost And Choice”," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 2(1), pages 1-16, March.
    3. Giuseppe Eusepi & Richard E. Wagner, 2013. "Tax Prices in a Democratic Polity: The Continuing Relevance of Antonio de Viti de Marco," History of Political Economy, Duke University Press, vol. 45(1), pages 99-121, Spring.
    4. Giuseppe Eusepi & Richard E. Wagner, 2017. "Public Debt," Books, Edward Elgar Publishing, number 17704.
    5. Jevons, William Stanley, 1871. "The Theory of Political Economy," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number jevons1871.
    6. Geoffrey Brennan & Giuseppe Eusepi, 2002. "The Dubious Ethics of Debt Default," Public Finance Review, , vol. 30(6), pages 546-561, November.
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    Cited by:

    1. Daniel J. Smith, 2020. "James M. Buchanan centennial birthday academic conference: an introduction to the special issue," Public Choice, Springer, vol. 183(3), pages 223-226, June.
    2. Art Carden & M. Scott King & Audrey Redford & James E. Hanley, 2021. "James M. Buchanan’s Constrained Vision in Cost and Choice ," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 36(Fall 2021), pages 91-109.

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    More about this item

    Keywords

    James Buchanan; Francesco Ferrara; Antonio de Viti de Marco; Subjectivist economics; Cost theory; Public debt;
    All these keywords.

    JEL classification:

    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • D86 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Economics of Contract Law
    • H30 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - General
    • H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems
    • H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt

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