Economics Dictionary of ArgumentsHome
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| James M. Buchanan was an American economist best known for founding public choice theory, which applies economic principles to political decision-making. He emphasized the role of incentives and individual behavior in government actions. Buchanan won the Nobel Prize in Economics in 1986 for his work on the contractual and constitutional bases of economic and political decision-making.:_____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
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Donald J. Boudreaux on Buchanan, James M. - Dictionary of Arguments
Boudreaux I 8 Buchanan/Boudreaux: Keynesianism/Boudreaux: With aggregative thinking, “the social welfare” is promoted by “the government,” with the latter treated as if it’s an organism possessing a brain, and as if that brain’s main interest lies not in serving itself but, rather, in serving the nation. BuchananVsKeynesianism: Buchanan called such aggregative thinking the “organismic” notion of collectives - that is, the collective as organism. From the very start, nearly all of Buchanan’s lifetime work was devoted to replacing the organismic approach with the individualistic one - a way of doing economics and political science that insists that choices are made, and costs and benefits are experienced, only by individuals. (…) Buchanan wrote his first sole-authored book to debunk a myth about government debt that had become widely accepted only because of Keynesianism’s organismic assumptions. >Keynesianism, >Methodological individualism, >James M. Buchanan as Author. Boudreaux I 10 From its start, Buchanan’s entire career can be understood as a constructive scholarly reaction to the analytical errors of Keynesianism on the one hand, and excessively romantic beliefs about democracy on the other. >Democracy/Buchanan._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition. |
Boudreaux I Donald J. Boudreaux Randall G. Holcombe The Essential James Buchanan Vancouver: The Fraser Institute 2021 Boudreaux II Donald J. Boudreaux The Essential Hayek Vancouver: Fraser Institute 2014 |
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