Front Page Titles (by Subject) Richard E. Wagner - Democracy in Deficit: The Political Legacy of Lord Keynes
The Online Library of Liberty
A project of Liberty Fund, Inc.
Search this Title:
Richard E. Wagner - James M. Buchanan, Democracy in Deficit: The Political Legacy of Lord Keynes 
The Collected Works of James M. Buchanan, Foreword by Robert D. Tollison, 20 vols. (Indianapolis: Liberty Fund, 1999-2002). Vol. 8 Democracy in Deficit: The Political Legacy of Lord Keynes.
About Liberty Fund:
Liberty Fund, Inc. is a private, educational foundation established to encourage the study of the ideal of a society of free and responsible individuals.
Foreword and coauthor note © 2000 Liberty Fund, Inc. Democracy in Deficit: The Political Legacy of Lord Keynes © 1977 by Academic Press, Inc.
Fair use statement:
This material is put online to further the educational goals of Liberty Fund, Inc. Unless otherwise stated in the Copyright Information section above, this material may be used freely for educational and academic purposes. It may not be used in any way for profit.
Richard E. Wagner
The analytical core of the argument in Democracy in Deficit is simple and straightforward. Indeed, the argument is perhaps the single most persuasive application of the elementary theory of public choice, which focuses primary attention on the incentives faced by choosers in varying social roles.
Richard Wagner and I did not sense any purpose of the book beyond that of laying out the elementary propositions along with the implications. Wagner, as colleague and coauthor, was helpful in placing the concept into its history-of-ideas context, and in his continued insistence that even the simplest arguments must be elaborated to be convincing to skeptics.
Neither Dick Wagner nor I suffer fools gladly, but without our mutually enforcing constraints, a book by either of us would have surely lapsed too readily into polemics.
James M. Buchanan