January 11, 2013
James Buchanan is dead. But his ideas will live for ever.
A few months ago I created a list of the world's top 10 living economists. James Buchanan was the TOP MOST living economist, according to my list.
Now he is dead.
I mourn his passing, but celebrate his many contributions to mankind.
Buchanan is best known (along with Tullock) for bringing the logic of economics into play in our public choices (e.g. how much of a road to have vs. how much of a public park).
I’ve been remiss in reading James Buchanan. I've liked his essay, “Soul of Classical Liberalism”, glanced through parts of Calculus of Consent, and broadly understood his work, but have never had time to understand him fully.