What area of economics did Buchanan's work notably influence?
Behavioral economics
Supply and demand
Public choice
Macroecnomics
Answer
Public choice is a school of thought within political economy that studies economic policies from the perspective of individual self-interest, and how political processes are affected by special interest groups, lobbying, and rent-seeking. Buchanan was one of the founders of public choice, and his work on the subject is considered to be influential.
The Mind of Economics: Unleashing the Legacy of James M. Buchanan
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