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James Buchanan Jr. (/ b j uː ˈ k æ n ə n / bew ... Political views. James Buchanan (1859) by George Healy as seen in the National Portrait Gallery in Washington, D.C.
The presidency of James Buchanan began on March 4, 1857, when James Buchanan was inaugurated as the 15th President of the United States, and ended on March 4, 1861.Buchanan, a Democrat from Pennsylvania, took office after defeating John C. Frémont of the Republican Party and former President Millard Fillmore of the American Party in the 1856 presidential election.
James McGill Buchanan Jr. (/ b juː ˈ k æ n ə n / bew-KAN-ən; October 3, 1919 – January 9, 2013) was an American economist known for his work on public choice theory [1] originally outlined in his most famous work, The Calculus of Consent, co-authored with Gordon Tullock in 1962.
Democratic nominee James Buchanan defeated Republican nominee John C. Frémont and Know Nothing/Whig nominee Millard Fillmore. The main issue was the expansion of slavery as facilitated by the Kansas–Nebraska Act of 1854. Buchanan defeated President Franklin Pierce at the 1856 Democratic National Convention for the nomination.
Buchanan's argument is similar to a social contract view of government, where individuals agree to place constraints on themselves in exchange for anticipated benefits, [8] Buchanan argued that just as a market transaction occurs through voluntary, mutually beneficial exchange, so with political "exchanges" of rights and authority.
James M. Buchanan and Gordon Tullock coauthored The Calculus of Consent: Logical Foundations of Constitutional Democracy (1962), considered one of the landmarks in public choice and constitutional economics. The book's preface says it is "about the political organization" of a free society.
Democracy in Chains: The Deep History of the Radical Right's Stealth Plan for America is a 2017 nonfiction book by Nancy MacLean published by Viking Press. [1] MacLean critically examines the school of economic thinking known as "public choice", focusing on its founder James M. Buchanan, who received the Nobel Memorial Prize in Economics in 1986.
James Buchanan (United States, 1919–2013) is known for his economic theories of the political process, which were among the first to take seriously the concept of politicians as rational actors that respond to incentives. Some literature: The Calculus of Consent / James Buchanan & Gordon Tullock, 1962; The Limits of Liberty, 1975