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Democracy Unchained: Contractualism, Individualism, and Independence in Buchanan’s Democratic Theory

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  • John Thrasher

    (Chapman University)

Abstract

Contrary to the claims of some of his critics, James Buchanan was an ardent democrat. I argue that Buchanan’s conception of democratic governance organized by a contractually justified constitution is highly distinctive because of his commitment to a strong conception of individualism. For Buchanan, democracy is neither justified instrumentally—by the goods it generates—nor by reference to some antecedent conception of justice. Instead, democracy is the only political option for a society that takes individualism seriously. One implication of this view is that democracies can only be limited by the rules they collectively give themselves in the form of constitutions. I explicate this conception of democracy and address some of its implications, assumptions, and challenges.

Suggested Citation

  • John Thrasher, 2019. "Democracy Unchained: Contractualism, Individualism, and Independence in Buchanan’s Democratic Theory," Homo Oeconomicus: Journal of Behavioral and Institutional Economics, Springer, vol. 36(1), pages 25-40, October.
    • Handle: RePEc:spr:homoec:v:36:y:2019:i:1:d:10.1007_s41412-019-00085-6
    DOI: 10.1007/s41412-019-00085-6
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    References listed on IDEAS

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    3. James M. Buchanan, 1954. "Social Choice, Democracy, and Free Markets," Journal of Political Economy, University of Chicago Press, vol. 62, pages 114-114.
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    5. Ken Binmore, 1998. "Game Theory and the Social Contract - Vol. 2: Just Playing," MIT Press Books, The MIT Press, edition 1, volume 2, number 0262024446, December.
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    7. Kliemt, Hartmut, 2011. "Bukantianism—Buchanan's philosophical economics," Journal of Economic Behavior & Organization, Elsevier, vol. 80(2), pages 275-279.
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    Cited by:

    1. Roland Fritz & Nils Goldschmidt & Matthias Störring, 2023. "Contextual liberalism: the ordoliberal approach to private vices and public benefits," Public Choice, Springer, vol. 195(3), pages 301-322, June.

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    More about this item

    Keywords

    James Buchanan; Democracy; Contractualism; Liberalism;
    All these keywords.

    JEL classification:

    • B3 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology

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