Buchanan on externalities: An exercise in applied subjectivism

Alain Marciano

Journal of Economic Behavior & Organization, 2011, vol. 80, issue 2, 280-289

Abstract: Buchanan's work on the methodology of economics includes many references to externalities. Buchanan has emphasized that a subjective conception of economics, and a focus put on exchange rather than on choice, has implications on an analysis of externalities. In this paper, we analyze the reverse claim: Buchanan's views on externalities are a perfect illustration of his plea for subjectivism in economics, and the need to focus on economics-as-a-science-of exchange. We show that Buchanan's treatment of externalities was a “laboratory” for his claims and arguments about subjectivism.

Keywords: Subjectivism; Objectivism; Choice; Exchange; Buchanan; Externalities (search for similar items in EconPapers)
JEL-codes: B21 B31 B41 (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jeborg:v:80:y:2011:i:2:p:280-289

DOI: 10.1016/j.jebo.2011.06.025

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