What school of economic thought is Buchanan associated with?
Neo-classical economics
Chicago School
Keynesian economics
Virginia School
Answer
James M. Buchanan was a member of the Virginia School of political economy, a school of thought that emphasizes the importance of political institutions in determining economic outcomes. Buchanan argued that economic analysis must be based on an understanding of the political process, and that political institutions must be designed to protect individual liberty and promote economic efficiency.
The Mind of Economics: Unleashing the Legacy of James M. Buchanan
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