James M. Buchanan: a throrist of political economy and social philosophy

This text explores the academic contribution of James Buchanan, who received the Nobel Prize for economics in 1986.

Buchanan's receipt of the Prize is noteworthy because he was a maverick within the economics profession.

In contrast to the preponderance of economists, Buchanan made little use of mathematics and no use of econometrics, preferring to used logic and language to insert his ideas into the scholarly community.

Moreover, his ideas extended the domain of economic inquiry along many paths that numerous economists subsequently pursued.