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An index to the series "The Collected works of James M. Buchanan."
The thirty-one papers presented in this volume offer scholars and general readers alike a comprehensive introduction to the work of one of the greatest economists of the modern era. Many of Buchanan's most important essays are gathered in this inaugural volume of the twenty-volume series from Liberty Fund of his Collected Works. The editors have focused on papers that Buchanan has written without collaboration and which present Buchanan's earlier, classic statements on crucial subjects rather than his subsequent elaborations which appear in later volumes in the series. Included, too, is Buchanan's Nobel address, "The Constitution of Economic Policy," and the text of the Nobel Committee's press release explaining why Buchanan was awarded the prize for Economics in 1986. The volume also includes Buchanan's autobiographical essay, "Better Than Plowing," in which he gives not only a brief account of his life, but also his own assessment of what is important, distinctive, and enduring in his work. The foreword by the three series editors will be valuable to all readers who wish to engage the challenging but epochal writings of the father of modern public choice theory. --
This volume presents a collection of thirty-four essays and shorter works by James M. Buchanan that represent the brilliance of his founding work on public-choice theory. The work of James M. Buchanan is perhaps most often associated with his helping to found public-choice theory. Buchanan's book-length works such as 'The Calculus of Consent' or 'The Reason of Rules' (Volumes 3 and 10, respectively, in Liberty Fund's 'The Collected Works of James M Buchanan') are best known for their brilliant application of market behavioural models to government. But Buchanan's shorter works represented here all show originality and insight as well as clear articulation of important theoretical principles. What's more, these essays have all had a significant impact on the subsequent literature about public choice. In this volume, the works are broken down into these major categorical groupings: general approach; public choice and its critics; voters; voting models; rent seeking; regulation; public choice and public expenditures. As Robert D Tollison concludes his foreword to this volumes, "Read in conjunction with the other parts of the 'Collected Works', these papers offer the reader a fuller appreciation of the public-choice revolution and its impact and prospects."
As diverse as the papers presented in this volume may seem at first glance, all of them touch on two characteristic themes of James Buchanan's work: the respect for individual sovereignty and the threat of monopoly power on the rights of the individual. In his foreword, Hartmut Kliemt says, "As opposed to more extreme and more utopian libertarians, [Buchanan] well understands that in our world it takes a state to defend the individual from the state. Buchanan, therefore, is not an anarchist but, rather, what may be called a 'reluctant anarchist' who accepts both that the state is the greatest threat to individual sovereignty and that without some statelike monopoly, individual sovereignty cannot be protected." The twenty-six essays included in Federalism, Liberty, and the Law are grouped into these categories: The Analytics of Federalism Federalism and Freedom Liberty, Man, and the State The Constitution of Markets Economists, Efficiency, and the Law Law, Money, and Crime The central issue that unites the pieces in this volume is monopoly power and its control. As a libertarian, Buchanan sees government as the greatest threat--and also the greatest protector--of individual liberties. James M. Buchanan (1919-2013) was an eminent economist who won the Alfred Nobel Memorial Prize in Economic Sciences in 1986 and was considered one of the greatest scholars of liberty in the twentieth century.
This book analyzes public debt from a political, historical, and global perspective. It demonstrates that public debt has been a defining feature in the construction of modern states, a main driver in the history of capitalism, and a potent geopolitical force. From revolutionary crisis to empire and the rise and fall of a post-war world order, the problem of debt has never been the sole purview of closed economic circles. This book offers a key to understanding the centrality of public debt today by revealing that political problems of public debt have and will continue to need a political response. Today’s tendency to consider public debt as a source of fragility or economic inefficiency misses the fact that, since the eighteenth century, public debts and capital markets have on many occasions been used by states to enforce their sovereignty and build their institutions, especially in times of war. It is nonetheless striking to observe that certain solutions that were used in the past to smooth out public debt crises (inflation, default, cancellation, or capital controls) were left out of the political framing of the recent crisis, therefore revealing how the balance of power between bondholders, taxpayers, pensioners, and wage-earners has evolved over the past 40 years. Today, as the Covid-19 pandemic opens up a dramatic new crisis, reconnecting the history of capitalism and that of democracy seems one of the most urgent intellectual and political tasks of our time. This global political history of public debt is a contribution to this debate and will be of interest to financial, economic, and political historians and researchers. Chapters 13 and 19 are available open access under a Creative Commons Attribution 4.0 International License via link.springer.com.
John Maynard Keynes, then a rising young economist, participated in the Paris Peace Conference in 1919 as chief representative of the British Treasury and advisor to Prime Minister David Lloyd George. He resigned after desperately trying and failing to reduce the huge demands for reparations being made on Germany. The Economic Consequences of the Peace is Keynes' brilliant and prophetic analysis of the effects that the peace treaty would have both on Germany and, even more fatefully, the world.