James Buchanan and Peaceful Cooperation by Marciano, Alain;

From Public Finance to a Theory of Collective Action

Series: Elements in Austrian Economics;

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Product details:

Publisher Cambridge University Press
Date of Publication 27 June 2024

ISBN 9781009493796
Binding Hardback
No. of pages75 pages
Size 229x152x6 mm
Weight 265 g
Language English

Short description:

The Element proposes a new history of the origins of public choice theory, and Buchanan's theory of collective action.

Long description:

Buchanan believed that individuals are fundamentally willing to cooperate with others. It was at the center of his works in public finance in the late 1940s and early 1950s, and also crucial to his work in public choice in the 1960s. The purpose of this book is to show which forms this belief took over these two decades or so, and to explain the continuity between these forms. We adopt a historical approach that allows us to recount the story of how Buchanan came to develop a theory of collective action, including his conception of cooperation in small groups, to implement a technical condition about the pricing of public goods he defended early in his career. We describe the different steps Buchanan took, the encounters that influenced him, and the events and challenges that led him to revise his views to make room for this fundamental philosophical conviction.

1. Introduction; 2. Spillover effects, the pricing of roads, and the problem of social cost; 3. Buchanan's beliefs about individualized prices put to the test; 4. Virginia political economy, collective action and public finance; 5. Towards a theory of collective action; 6. A theory of collective action; Conclusion; References.

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