

Don Boudreaux on Buchanan
Jan 11, 2021
Don Boudreaux, an economist from George Mason University, dives deep into the impactful work of Nobel laureate James Buchanan. He explores public choice theory, revealing how economic principles apply to political behavior. Boudreaux discusses Buchanan's contrarian views on markets and the notion of life as an ongoing process rather than a mere series of problems. The conversation also touches on ethics in economics, emphasizing human identity and the importance of institutional frameworks in personal transformation.
01:16:17
Economics: Choice vs. Exchange
- Economics isn't just about individual choice and scarcity.
- It's about human interactions and exchanges, both commercial and non-commercial.
Economy vs. Individual
- The economy isn't like an individual with a unified set of preferences.
- There's no single "best" allocation of resources for society as a whole.
Gulag Defiance
- Solzhenitsyn and Grossman highlighted individuals in the gulag who defied self-interest.
- Even under dire circumstances, some chose not to prioritize mere survival.
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Intro
00:00 • 2min
The Foundations of Public Choice Economics
02:15 • 11min
The Challenges of Nuance in Journalism and Political Discourse
12:50 • 3min
Understanding Public Choice Theory
15:58 • 26min
Exploring Human Identity: Natural vs. Artifactual
42:06 • 2min
The Intersection of Ethics and Economics
44:23 • 27min
Beyond Material Gain: The Essence of Free Markets
01:11:02 • 5min

Bourgeois Dignity
Deirdre McCloskey
In *Bourgeois Dignity*, Deirdre McCloskey challenges traditional explanations for the Industrial Revolution by arguing that a change in rhetoric surrounding the dignity of business and innovation was crucial. She posits that this shift in societal attitudes toward the bourgeoisie in Northwest Europe during the 18th century was the primary driver of economic growth. The book is part of a series exploring the role of ideas and dignity in economic development.
Adam Smith's Wealth of Nations
Adam Smith's Wealth of Nations
An Inquiry into the Nature and Causes of the Wealth of Nations
Dan Klein
I don't have enough information to provide a long description for this book.
The Moral Limits of Markets
The Moral Limits of Markets
The Moral Limits of Markets
Robert Frank
I don't have enough information to provide a long description for this book.

No specific book titled 'Politics Without Romance'
Concept associated with James Buchanan's public choice theory
James M. Buchanan
James Buchanan's work in public choice theory emphasizes that political actors, including politicians and bureaucrats, are driven by self-interest rather than a desire to serve the public good. This perspective challenges the romanticized view of politics and highlights the importance of institutional constraints to limit government power.

What should economists do?
James M. Buchanan
I don't have enough information to provide a long description for this book.

The logical foundations of constitutional liberty
James M. Buchanan
This book gathers many of James M. Buchanan's most important essays, offering a comprehensive introduction to his work on constitutional liberty and public choice theory. It includes his Nobel address and autobiographical reflections, providing insights into his contributions to economics and political science.

The importance of what we care about
Harry Frankfurt
This book is a collection of thirteen seminal essays that delve into central topics such as freedom of the will, moral responsibility, and the concept of a person. Frankfurt explores fundamental problems of what it means to be a person and what one should care about in life. The essays provide a comprehensive analysis of human freedom and its implications on ethics and personal ideals.

The Methodology of Positive Economics
Milton Friedman
In 'The Methodology of Positive Economics,' Milton Friedman outlines his views on economic methodology, emphasizing the importance of positive economics as a predictive science independent of ethical considerations. He argues that the success of economic theories should be evaluated based on their predictive power rather than the realism of their assumptions. This essay is a foundational work in the philosophy of economics, influencing how economists approach theory and policy.

The life you can save
How to Play Your Part in Ending World Poverty
Peter Singer
Peter Singer's "The Life You Can Save" is a compelling argument for effective altruism, urging readers to donate to charities that demonstrably alleviate suffering. Singer challenges conventional thinking about philanthropy, emphasizing the moral obligation to maximize the positive impact of our donations. The book presents a practical framework for identifying and supporting high-impact charities, focusing on cost-effectiveness and measurable results. Singer's work has sparked significant debate and inspired many to re-evaluate their charitable giving. The book's core message is that even small contributions can make a substantial difference in the lives of others.
Natural and Artifactual Man
Natural and Artifactual Man
An Essay on the Nature of Human Action
James Buchanan
I don't have enough information to provide a long description for this book.

The Ultimate Resource
Julian Lincoln Simon
In this book, Julian Simon argues against the notion that humanity is running out of natural resources. He contends that as resources become scarcer, their prices rise, creating incentives for people to discover more resources, ration and recycle them, and develop substitutes. Simon believes that human creativity and innovation are the ultimate resources, enabling economic growth and improving living standards despite population growth. The book also discusses historical precedents of unfounded environmental fears and includes a famous wager with Paul Ehrlich that demonstrated the decline in real prices of commodity metals over time[1][2][3].

The road to serfdom
Friedrich Von Hayek
In this influential book, Hayek argues that the abandonment of individualism and classical liberalism leads to a loss of freedom, the creation of an oppressive society, and ultimately, the tyranny of a dictator. He challenges the view that fascism and Nazism are capitalist reactions against socialism, instead positing that these ideologies share common roots in central economic planning and the empowerment of the state over the individual. The book emphasizes the dangers of collectivism and the importance of maintaining a free market system to preserve human freedom and dignity.

Aspiration
Agnes Callard

Man's Search for Meaning
Viktor Frankl
The book is divided into two parts. The first part recounts Frankl's harrowing experiences as a prisoner in Nazi concentration camps, including Auschwitz, between 1942 and 1945. He describes the inhumane conditions and the psychological and emotional struggles of the prisoners. The second part introduces Frankl's theory of logotherapy, which posits that the primary human drive is the search for meaning, rather than pleasure. Frankl argues that meaning can be found through three main avenues: work (doing something significant), love (caring for another), and suffering (finding meaning in one's own suffering). The book emphasizes the importance of finding purpose and meaning in life, even in the most adverse conditions, as a key factor in survival and personal growth.

In the First Circle
Aleksandr Isayevich Solzhenitsyn
The novel, set during December 1949, takes place in a sharashka near Moscow, a research facility where prisoners, including scientists and engineers, work on secret projects for the Soviet government. The story follows characters like Lev Rubin, Dimitri Sologdin, and Gleb Nerzhin as they navigate the complexities of their privileged yet oppressive environment. The title alludes to Dante's 'Inferno,' where the first circle of Hell is limbo, reflecting the relatively better conditions but moral limbo of the prisoners. The novel delves into themes of conscience, moral imperative, and the struggle to retain human dignity within a totalitarian system. Solzhenitsyn's work is semi-autobiographical, drawing from his own experiences in the gulag system.

Life and Fate
Vasily Grossman
Written in 1959, 'Life and Fate' is a monumental novel that narrates the story of the Shaposhnikov family during the Great Patriotic War. The novel is set against the backdrop of the Battle of Stalingrad and delves into the lives of numerous characters, including Soviet physicist Viktor Shtrum, who grapples with anti-Semitism and moral dilemmas in a totalitarian state. The book juxtaposes the horrors of war and the Gulag with the intimate lives of its characters, exploring profound philosophical and moral questions. Despite its initial suppression by the KGB, the novel was eventually smuggled out of the Soviet Union and has since been recognized as one of the greatest Russian novels of the 20th century.

Transformative Experience
L. A. Paul
In 'Transformative Experience', L.A. Paul argues that certain life choices, such as deciding to become a parent, converting to a religion, or medically altering one's physical and mental capacities, are transformative experiences that cannot be assessed in advance. These experiences change the person in both epistemic and personal ways, making it impossible to make fully informed decisions based on current preferences and values. Paul uses classic philosophical examples and recent work in decision theory, cognitive science, and the philosophy of mind to develop a rigorous account of how we should understand and approach such transformative decisions.

The Choice
Edith Eager

The calculus of consent
James M. Buchanan
This book, written by James M. Buchanan and Gordon Tullock, is a classic in the field of public choice theory and constitutional political economy. It introduces a model of constitutional decision making, focusing on the choice of rules that govern political activities. The authors use economic methods and contractual constitutionalism to address the problem of democratic justification, exploring how individuals might consent to institutional rules that benefit everyone. The book is significant for its analysis of constitutional choice, logrolling, and political exchange, and it has had a lasting impact on the fields of economics and political science[1][3][4].
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.