James M. Buchanan Trusted Market Mechanisms Because He Trusted Individuals
James Buchanan, one of the most influential economists of the twentieth century, believed that individuals were able to voluntarily devise private and market-like institutional arrangements to solve...
View ArticleBuchanan’s Samaritan’s Dilemma
The Samaritan’s dilemma is not only about the detrimental effects help can have on the beneficiaries. As James Buchanan explained in his 1975 essay, the dilemma is about inequality, strategic courage,...
View ArticleAdam Smith on Self-Betterment and Policy Impacts
In this celebration of Adam Smith’s contributions to the field of political economy, Peter J. Boettke and Alain Marciano take a passage from The Wealth of Nations and discuss its implications for...
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