What is James M. Buchanan known for?
Public choice theory
Quantum theory
Game theory
String theory
Answer
James M. Buchanan is known for public choice theory. Public choice theory is the application of economic theory to the analysis of political decision-making. It is based on the assumption that politicians and government officials are rational actors who pursue their own self-interest. Public choice theory has been used to explain a wide range of political phenomena, including government spending, taxation, and regulation.
The Mind of Economics: Unleashing the Legacy of James M. Buchanan
More Questions
Which work is considered James M. Buchanan's most famous?
Who co-authored "The Calculus of Consent" with James M. Buchanan?
When was the Nobel Memorial Prize in Economic Sciences awarded to Buchanan?
What topic did Buchanan's work primarily focus on?
At which institution was James M. Buchanan a professor?
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