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James M. Buchanan
6 quotes
“I did not call him "Fritz." To me he remained always "Professor Hayek," despite his own graciousness in treating me as a peer. I shall not attempt to evaluate Professor Hayek's monumental contribution to our understanding of the events of this turbulent century, to the influence of his ideas on these events themselves or even to the development of economic theory in a strictly scientific sense.”
James M. Buchanan (1919–2013) first seen 1992 wikiquote, CC BY-SA 4.0 source
Recorded in: I did not call him “Fritz”: Personal recollections of Professor F. A. v. Hayek." Constitutional Political Economy 3.2 (1992): 129-135.
“The hard core in public choice can be summarized in three presuppositions: (1) methodological individualism, (2) rational choice, and (3) politics-as-exchange.”
James M. Buchanan (1919–2013) first seen 2003 wikiquote, CC BY-SA 4.0 source
Recorded in: Public Choice: The Origins and Development of a Research Program", Center for Study of Public Choice at George Mason University (2003)
“A version of the old fable about the king's nakedness may be helpful here. Public choice is like the small boy who said that the king really has no clothes. Once he said this, everyone recognized that the king's nakedness had been recognized, but that no-one had really called attention to this fact.”
James M. Buchanan (1919–2013) first seen 2003 wikiquote, CC BY-SA 4.0 source
Recorded in: Public Choice: The Origins and Development of a Research Program", Center for Study of Public Choice at George Mason University (2003)
“Economics is the study of the whole system of exchange relationships. Politics is the study of the whole system of coercive or potentially coercive relationships.”
James M. Buchanan (1919–2013) said by 2013 at the latest wikiquote, CC BY-SA 4.0 source
“Individuals do not act so as to maximize utilities described in independently-existing functions. They confront genuine choices, and the sequence of decisions taken may be conceptualized, ex post (after the choices), in terms of “as if” functions that are maximized. But these “as if” functions are, themselves, generated in the choosing process, not separately from such process. If viewed in this perspective, there is no means by which even the most idealized omniscient designer could duplicate the results of voluntary interchange. The potential participants do not know until they enter the process what their own choices will be. From this it follows that it is logically impossible for an omniscient designer to know, unless, of course, we are to preclude individual freedom of will.”
James M. Buchanan (1919–2013) first seen 1982 wikiquote, CC BY-SA 4.0 source
Recorded in: Order Defined in the Process of Its Emergence", Literature of Liberty, Winter 1982, vol. 5, No. 4
“Well, we haven’t learnt yet to live together peacefully... But I don’t know what progress really means. Anyway, I think we need to have faith in the fact that there is more out there to be explained. Even the paradigms that we now have, including subjective value theory, for example, are only provisional. Some physicist might believe that ultimately, we will be able to explain everything. To me, that is utterly stupid, just like saying that an atheist is equally dogmatic as a Texas Baptist. It seems to me that, if you accept evolution, you can still not expect your dog to get up and start talking German. And that’s because your dog is not genetically programmed to do that. We are human animals, and we are equally bound. There are whole realms of discourse out there that we cannot reach, by definition. There are always going to be limits beyond which we cannot go. Knowing that they are there, you can always hope to move a little closer – but that’s all.”
James M. Buchanan (1919–2013) first seen 2009 wikiquote, CC BY-SA 4.0 source
Recorded in: In: Karen Ilse Horn (ed.) Roads to Wisdom, Conversations With Ten Nobel Laureates in Economics (2009)