Part of: The Collected Works of James M. Buchanan in 20 vols. Cost and Choice: An Inquiry in Economic Theory, Vol. 6 of the Collected Works

Geoffrey Brennan, among other scholars, assesses and critiques the ideas of James Buchanan in commemorating his death in 2013. Brennan and others explore Buchanan’s uniqueness of ideas as a classical liberal, and the common critiques of those defending liberal individualism.

Geoffrey Brennan has a conversation with James Buchanan on his contributions to Public Choice economics, his evaluation of free markets, and his personal philosophy.

Buchanan’s book contributes to his contractarian theory of the “productive state".” exploring public goods problems.

Key ideas Tullock explores in this book are the public’s trust of scientific contributions and the problems of science as a social system.

Political theorist Anthony de Jasay refutes the idea that the government’s provision of public goods is unnecessary. He points to coercive action from the state being the foundation of his argument.

In Cost and Choice, Buchanan does not merely develop the notion of opportunity costs; Adam Smith recognized opportunity costs were important (but he failed to recognize their marginal and subjective nature).

Part of Buchanan’s contribution is that our definitions and assumptions about opportunity…