Don Boudreaux on Buchanan

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4.7 • 4.4K Ratings

🗓️ 11 January 2021

⏱️ 76 minutes

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Summary

Economist and author Don Boudreaux of George Mason University discusses the life and work of the economist James Buchanan with EconTalk host Russ Roberts. Buchanan received the Nobel Prize in 1986 for his work creating and developing public choice--the field which applies the tools of economics to politicians and political behavior. After discussing the importance of public choice, Boudreaux and Roberts focus on two contrarian articles of Buchanan's where he argues for the importance of markets and life as processes rather than problems to be solved analytically.

Transcript

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0:00.0	Welcome to Econ Talk, part of the Library of Economics and Liberty.
0:06.4	I'm your host, Russ Roberts of Stanford University's Hoover Institution.
0:11.0	Our website is econtalk.org where you can subscribe, comment on this podcast, and find links
0:16.3	and other information related to today's conversation.
0:19.0	You'll also find our archives where you can listen to every episode we've ever done going
0:23.3	back to 2006.
0:25.5	Our email address is mailadycontalk.org. We'd love to hear from you.
0:32.1	Today is December 23, 2020 and my guest is Don Boudre of George Mason University.
0:37.3	This is Don's 14th appearance on econtalk. He was last year in June of 2017 when he was
0:43.1	joined by Montgomery and we talked about emergent order.
0:46.8	I would encourage listeners to go to econtalk.org for our annual survey of your favorite episodes.
0:53.2	Don, welcome back to econtalk.
0:56.0	Always good to be here, Russ.
0:57.8	Our topic for today is the work of James Buchanan, in particular two of his essays.
1:02.8	They are what should economists do and natural and artificial man.
1:09.1	They're both readable, accessible, mostly to a general reader, and available in the book,
1:13.7	The Logical Foundations of Constitutional Liberty, published by Liberty Fund, the sponsor
1:19.2	of econtalk and got the book right here for listeners to, for viewers to look at, really
1:27.5	exciting, great visual, of course.
1:31.6	But I wanted to start us off by having you give us an overview of Buchanan's work generally
1:40.2	and then we'll turn to the specific essays.
1:43.0	So talk about your relationship with him, how long you knew him and more generally what
	...

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