Cost And Choice James M. Buchanan

ISBN: 9780865972247

Published:

Paperback

113 pages


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Cost And Choice  by  James M. Buchanan

Cost And Choice by James M. Buchanan
| Paperback | PDF, EPUB, FB2, DjVu, talking book, mp3, RTF | 113 pages | ISBN: 9780865972247 | 10.33 Mb

While relatively short, Cost and Choice, according to Hartmut Kliemt in the foreword, “holds quite a central place in Buchanan’s work. For the fundamental economic notion of ‘cost’, or ‘opportunity cost’, is intimately related to the individualistMoreWhile relatively short, Cost and Choice, according to Hartmut Kliemt in the foreword, “holds quite a central place in Buchanan’s work. For the fundamental economic notion of ‘cost’, or ‘opportunity cost’, is intimately related to the individualist and subjectivist perspective that is so essential to the Buchanan enterprise.”To be sure, the Austrian school of economists enunciated similar views of cost decades before Buchanan, but Buchanan advances his theories by attempting to integrate his views into the orthodox classical and neoclassical framework.When he published the book in 1969, Buchanan hoped that other scholars would follow him in researching the opportunity-cost concept and its applications.

Unlike the theater of public policy, where Buchanan’s work is widely celebrated and influential, his important work on the issue of cost and choice, so clearly explicated in this volume, has done little to move the mainstream of economic thinking in the thirty years since its original publication.

It is hoped that this new edition of Buchanan’s seminal work will place Buchanan’s groundbreaking ideas in wider circulation.Buchanan writes in the preface, “My aim is to utilize the theory of opportunity cost to demonstrate basic methodological distinctions that are often overlooked and to show that a consistent usage of this theory clarifies important areas of disagreement on policy issues.”James M. Buchanan is an eminent economist who won the Alfred Nobel Memorial Prize in Economic Sciences in 1986 and is considered one of the greatest scholars of liberty in the twentieth century.The entire series will include:Volume 1: The Logical Foundations of Constitutional LibertyVolume 2: Public Principles of Public DebtVolume 3: The Calculus of ConsentVolume 4: Public Finance in Democratic ProcessVolume 5: The Demand and Supply of Public GoodsVolume 6: Cost and ChoiceVolume 7: The Limits of LibertyVolume 8: Democracy in DeficitVolume 9: The Power to TaxVolume 10: The Reason of RulesVolume 11: Politics by Principle, Not InterestVolume 12: Economic Inquiry and Its LogicVolume 13: Politics as Public ChoiceVolume 14: Debt and TaxesVolume 15: Externalities and Public Expenditure TheoryVolume 16: Choice, Contract, and ConstitutionsVolume 17: Moral Science and Moral OrderVolume 18: Federalism, Liberty, and the LawVolume 19: Ideas, Persons, and EventsVolume 20: Indexes



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