EconTalk

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

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Episode guests

Donald Boudreaux

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Episode notes

Intro

2min

The Foundations of Public Choice Economics

11min

The Challenges of Nuance in Journalism and Political Discourse

3min

Understanding Public Choice Theory

26min

Exploring Human Identity: Natural vs. Artifactual

2min

The Intersection of Ethics and Economics

27min

Beyond Material Gain: The Essence of Free Markets

5min

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.

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