IDEAS home Printed from https://ideas.repec.org/a/eee/jeborg/v80y2011i2p358-366.html
   My bibliography  Save this article

James M. Buchanan – Doing away with discrimination and domination

Author

Listed:
  • Horn, Karen

Abstract

Winner of the Nobel Prize in 1986, James M. Buchanan has been one of the pioneers and founders of Public Choice theory and Constitutional Economics. The key to Buchanan's work lies in his deep-rooted devotion to the notions of voluntary exchange, self-determination, individualism, nondiscrimination, and absence of coercion. In this, Buchanan is a rather unique figure within his peer group of Nobel Laureates. This paper provides a short biographical sketch, highlights Buchanan's lasting achievements, defines and analyzes the overlaps of his work with the writings of other Nobel Laureates, such as Paul A. Samuelson, Kenneth J. Arrow, Friedrich A. Hayek, Milton Friedman, George Stigler, Gary Becker, Ronald Coase, Douglass North, Vernon Smith, Elinor Ostrom, Finn Kydland and Edward Prescott. The paper also looks at the future of economics as an academic discipline in general. Future research would greatly benefit from an attitude inspired by the Scottish Enlightenment, focusing on empirical observation and practical reason, concentrating on rules and institutions, looking more at exchange relationships than at pure allocational choice, and opening up to heterodox approaches and interdisciplinary research.

Suggested Citation

  • Horn, Karen, 2011. "James M. Buchanan – Doing away with discrimination and domination," Journal of Economic Behavior & Organization, Elsevier, vol. 80(2), pages 358-366.
    • Handle: RePEc:eee:jeborg:v:80:y:2011:i:2:p:358-366
    DOI: 10.1016/j.jebo.2011.07.011
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0167268111001867
    Download Restriction: Full text for ScienceDirect subscribers only

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Buchanan, James M., 2001. "Notes on Nobelity," Nobel Prize in Economics documents 1986-2, Nobel Prize Committee.
    2. James M. Buchanan, 1954. "Individual Choice in Voting and the Market," Journal of Political Economy, University of Chicago Press, vol. 62, pages 334-334.
    3. James M. Buchanan, 1954. "Social Choice, Democracy, and Free Markets," Journal of Political Economy, University of Chicago Press, vol. 62, pages 114-114.
    4. Buchanan, James M, 1993. "Public Choice after Socialism," Public Choice, Springer, vol. 77(1), pages 67-74, September.
    5. Kydland, Finn E & Prescott, Edward C, 1977. "Rules Rather Than Discretion: The Inconsistency of Optimal Plans," Journal of Political Economy, University of Chicago Press, vol. 85(3), pages 473-491, June.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Karen Horn, 2020. "Richard E. Wagner (Ed.): James M. Buchanan—A theorist of political economy and social philosophy," Constitutional Political Economy, Springer, vol. 31(2), pages 259-265, June.

    More about this item

    Keywords

    Public choice; James M. Buchanan; Nobel prize;

    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:jeborg:v:80:y:2011:i:2:p:358-366. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Haili He). General contact details of provider: http://www.elsevier.com/locate/jebo .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.