James McGill Buchanan Jr. Biography - Nobel Prize Winner (1986 )

James McGill Buchanan Jr. (born October 3, 1919) is an American economist most renowned for his work on Public Choice Theory, and who won the 1986 Nobel Memorial Prize in Economics. He originally graduated from Middle Tennessee Normal School in 1940. He has long been professor at George Mason University, and is a central figure in the Virginia school of political economy. He has also held teaching positions at the University of Virginia (founding the Thomas Jefferson center), UCLA, and the Virginia Polytechnic Institute (with the Center for the Study of Public Choice). He moved with the center to its new home at GMU. His work in economics included a rigorous analysis of the theory of logrolling.

His book The Calculus of Consent is considered to be one of the classic works that founded the discipline of public choice in economics and political science.

Written with Gordon Tullock, The Calculus of Consent argues that Government decisions are part of the economy, not exogenous factors. Therefore, methods of collective decisions must be studied as part of the study of the public sector. Calculus further describes the constitution as the line that is drawn between private and collective action. Public choice is then divided between pre and post-constitutional phases.

Akerlof, George A.
Allais, Maurice

Arrow, Kenneth J.

Aumann, Robert J.

Becker, Gary S.

Buchanan, James M., Jr.

Coase, Ronald H.

Debreu, Gerard

Engle, Robert F.

Fogel, Robert W.

Friedman, Milton

Frisch, Ragnar

Granger, Clive W. J.

Haavelmo, Trygve

Harsanyi, John C.

Heckman, James J.

Hayek, Friedrich August Von

Hicks, Sir John R.

Kahneman, Daniel

Kantorovich, Leonid Vitaliyevich

Klein, Lawrence R.

Koopmans, Tjalling C.

Kuznets, Simon

Kydland, Finn E.

Leontief, Wassily

Lewis, Sir Arthur

Lucas, Robert

Markowitz, Harry M.

McFadden, Daniel L.

Meade, James E.

Merton, Robert C.

Miller, Merton M.

Mirrlees, James A.

Modigliani, Franco

Mundell, Robert A.

Myrdal, Gunnar

Nash, John F.

North, Douglass C.

Ohlin, Bertil

Prescott, Edward C.

Samuelson, Paul A.

Schelling, Thomas C.

Scholes, Myron S.

Schultz, Theodore W.

Selten, Reinhard

Sen, Amartya

Sharpe, William F.

Simon, Herbert A.

Smith, Vernon L.

Solow, Robert M.

Spence, A. Michael

Stigler, George J.

Stiglitz, Joseph E.

Stone, Sir Richard

Tinbergen, Jan

Tobin, James

Vickrey, William


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