The Contributions of James M.Buchanan to Public Finance and Political Economy

Abstract

James M. Buchanan’s contributions to public finance and political economy are surveyed in six areas: (1) debt, fiscal illusion, and Keynesian criticisms; (2) London School of Economics cost approach; (3) methodological individualism and the economics of politics; (4) welfare price theory; (5) rent seeking and polity failure; and (6) political economy and constitutions. A comprehensive bibliography through 1984 of 10 books, 4 monographs, 43 refereed articles, 30 essays in books, 10 short papers, 33 papers in collected works, and a translation is offered.