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On Some Fundamental Issues in Political Economy: An Exchange of Correspondence

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  • James M. Buchanan
  • Warren J. Samuels

Abstract

The letter printed below are published by the correspondents with the hope that they will stimulate discussion and creative rethinking about some fundamental and interesting issues that are often ignored in the conduct of economic analysis and research and the application of traditional tools and concepts. The issues, we are aware, are not novel. Our conflicts and apprehensions replicate, in varying degree, past methodological controversies. But we are convinced that the fundamental nature of the topics argued warrants continuing re-examination. Just as each generation of economists has the burden of interpreting for itself the history of the discipline, each generation also confronts, directly or indirectly, the problem of the methodological foundations of economic analysis. Moreover, as the discussions in the letters illustrate, methodological issues are closely related to normative or policy positions, although the relations are often ambiguous and equivocal.
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Suggested Citation

  • James M. Buchanan & Warren J. Samuels, 1975. "On Some Fundamental Issues in Political Economy: An Exchange of Correspondence," Journal of Economic Issues, Taylor & Francis Journals, vol. 9(1), pages 15-38, March.
    • Handle: RePEc:mes:jeciss:v:9:y:1975:i:1:p:15-38
    DOI: 10.1080/00213624.1975.11503251
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    Cited by:

    1. Michael Munger & Georg Vanberg, 2023. "Contractarianism, constitutionalism, and the status quo," Public Choice, Springer, vol. 195(3), pages 323-339, June.
    2. Shruti Rajagopalan & Richard Wagner, 2013. "Constitutional craftsmanship and the rule of law," Constitutional Political Economy, Springer, vol. 24(4), pages 295-309, December.
    3. Alexandre Chirat, 2021. "When Berle and Galbraith brought political economy back to life : Study of a cross-fertilization (1933-1967)," EconomiX Working Papers 2021-27, University of Paris Nanterre, EconomiX.
    4. Daniel Finn, 2003. "The moral ecology of markets: on the failure of the amoral defense of markets," Review of Social Economy, Taylor & Francis Journals, vol. 61(2), pages 135-162.
    5. Phillip W. Magness & Art Carden & Vincent Geloso, 2019. "James M. Buchanan and the Political Economy of Desegregation," Southern Economic Journal, John Wiley & Sons, vol. 85(3), pages 715-741, January.
    6. C. M. Melenovsky, 2019. "The Status Quo in Buchanan’s Constitutional Contractarianism," Homo Oeconomicus: Journal of Behavioral and Institutional Economics, Springer, vol. 36(1), pages 87-109, October.

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