Economics as Unknowledge

David Reisman

Chapter 13 in James Buchanan, 2015, pp 181-195 from Palgrave Macmillan

Abstract: Abstract Buchanan’s economics is a minority interest. Its primary focus is on consensual order and conflict resolution: ‘My interest in understanding how the economic interaction process works has always been instrumental to the more inclusive purpose of understanding how we can learn to live one with another without engaging in Hobbesian war and without subjecting ourselves to the dictates of the state’ (CW I, 26). Allocative efficiency and general equilibrium are a poor second: ‘The “wealth of nations”, as such, has never commanded my attention save as a valued by-product of an effectively free society’ (CW I, 26). Buchanan’s economics is primarily the study of processes and rules. Only secondarily is it about goods and services.

Keywords: Allocative Efficiency; Perfect Competition; Professional Colleague; Impartial Spectator; Honorary Doctorate (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:gtechp:978-1-137-42718-2_13

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DOI: 10.1057/9781137427182_13

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