Abstract
When James Buchanan was awarded the 1986 Nobel Prize in economics the Nobel committee cited The Calculus of Consent,1 co-authored in 1962 with Gordon Tullock, as Buchanan’s most important work. But Buchanan himself has stated that he considers his 1969 book, Cost and Choice: An Inquiry in Economic Theory,2 to be his most important theoretical contribution.
I have often argued that the Austrians seem ... to be more successful in conveying the central principle of economics to students than alternative schools ... or approaches.
James M. Buchanan, 1976
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References
James Buchanan and Gordon Tullock, The Calculus of Consent (Ann Arbor: University of Michigan Press, 1962).
James Buchanan, Cost and Choice: An Inquiry in Economic Theory (Chicago: University of Chicago Press, 1969).
James Buchanan and G. F. Thirlby, eds., LSE Essays on Cost (New York: New York University Press, 1981).
Philip Wicksteed, The Common Sense of Political Economy (London: MacMillan, 1910).
James Buchanan and Geoffrey Brennan, The Power to Tax (New York: Cambridge University Press, 1980).
James Buchanan and Richard E. Wagner, Democracy in Deficit: The Political Legacy of Lord Keynes (New York: Academic Press, 1976), p. 126.
James Buchanan, “An Economists’s Approach to Scientific Politics,” in M. Parsons, ed., Perspectives in the Study of Politics (Chicago: Rand McNally, 1968), p. 78.
James Buchanan, “General Implications of Subjectivism in Economics,” in Geoffrey Brennan and Robert D. Tollison, eds., What Should Economists Do? (Indianapolis, Ind.: Liberty Press, 1979), p. 85.
Robert D. Tollison, “Rent Seeking: A Survey,” Kyklos 35 (1982): 577.
Thomas J. DiLorenzo, “Competition and Political Entrepreneurship: Austrian Insights Into Public Choice Theory,” Review of Austrian Economics 2 (1987): 59–72.
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DiLorenzo, T.J. (1990). The Subjectivist Roots of James Buchanan’s Economics. In: Rothbard, M.N., Block, W. (eds) The Review of Austrian Economics. Springer, Dordrecht. https://doi.org/10.1007/978-94-017-3454-7_6
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