Don Boudreaux on Buchanan
EconTalk
00:00
Understanding Public Choice Theory
This chapter explores public choice theory as discussed in Buchanan's 1979 essay, emphasizing the realistic view of politics rather than a romanticized perspective. It critiques traditional economic methodologies and highlights the distinction between individual and collective decision-making while examining the complexities of human interactions in economic contexts. The discussion delves into philosophical insights on personal transformation, the nature of preferences, and the role of exchange in pursuing individual goals.
Transcript
Play full episode
