Building on the public's unwillingness to act on principle in support of market solutions to apparent problems, whether real or imagined, these interest groups secure arbitrary restrictions on voluntary exchanges and, in the process, secure rents for their members while… — James M. Buchanan Copy Share Image
Rent control is one policy that economists universally would oppose. It is a grossly inefficient way of allocating housing space and, of course, it inhibits construction and creates the very thing it is supposed to alleviate. It is one of… — James M. Buchanan Copy Share Image
Politicians and bureaucrats are no different from the rest of us. They will maximize their incentives just like everybody else. — James M. Buchanan Copy Share Image
Politics is a romantic search for the good and the true and the beautiful. — James M. Buchanan Copy Share Image
People share a universal behavioural trait: if there are profits to be made, the effort to get that money will attract investment. This is… — James M. Buchanan Copy Share Image
If you have an area where high-income receivers concentrate, you have a higher fiscal capacity. That fiscal capacity is a valuable resource and will… — James M. Buchanan Copy Share Image
How would the US be different today if people coming off the boat were greeted with a welfare check instead of a shovel? — James M. Buchanan Copy Share Image
“The elementary and basic approach that I suggest places “the theory of markets” and not the “theory of resource allocation” at center stage. My… — James M. Buchanan Copy Share Image
It is much more difficult to get implemented politically what might be desirable economically. Even if you came out with an economic argument in… — James M. Buchanan Copy Share Image
You can get a coalition of senators from particular states in America, for example, who want to construct highways or dams or ports which… — James M. Buchanan Copy Share Image
“Despotism may be the only organizational alternative to the political structure that we observe.” — James M. Buchanan Copy Share Image
Imagine that Queen Elizabeth I, in her time, had the opportunity to give out a monopoly for playing cards within the kingdom. She knew… — James M. Buchanan Copy Share Image
You have to have a government to provide you with legal order, with stability, enforcement of property rights, enforcement of contracts, definition of rules… — James M. Buchanan Copy Share Image
The assumption that we can keep societies open and free to everybody is going to have to stop. We are going to have to… — James M. Buchanan Copy Share Image
