• 00:00    |    
    Initial credits
  • 00:14    |    
    The Intellectual Portrait Series
  • 00:26    |    
    Introducing James M. Buchanan
    • Early years
    • Academics
    • Introduction to economics
  • 04:17    |    
    A conversation with James M. Buchanan and Geoffrey Brennan (part II)
  • 05:17    |    
    Work ethic
    • Opinion of Frank Knight about authority and classical theory of economics
    • Opinion of Adam Smith about division of labor
    • Quotes n , Allyn Abbott Young (1928)
    • Dissident strand in formal economic viewpoint
    • Economic content in the work ethic and the defense of open markets
    • Is your view on subjectivism influenced by Friedrich A. Hayek or Ludwig von Mises?
    • Quotes n , James M. Buchanan (1999)
    • Utility flow: The driving force in subjective decisions
  • 14:12.5    |    
    Explorations in anarchy
    • External influence of anarchy by the experience of living in California
    • Quotes n , James M. Buchanan and Gordon Tullock (1962)
    • Collapse of the set of rules and institutions in the 1960s
    • Living in California and the period of reflexion about anarchy in America
    • Quotes n , James M. Buchanan (1975)
    • Quotes n , Gordon Tullock (1974)
    • Necessity of writing a testament about economics
  • 21:24    |    
    • How important is a federal structure for liberty and the right to succeed?
    • Modern application of the federation ideal
    • The provision of liberty and immigrant flows, border security in the United States of America
  • 27:00    |    
    Relatively absolute absolute
  • Relativity in the examination of values
  • 29:52    |    
    Commons as a metaphor for the political process
    • Friedrich Nietzsche's perspective about the world
    • Politics from a monolithic view
    • Political outcomes from different independent coalitions
  • 34:38    |    
    A career in the boondocks
    • Why did you choose to operate in the boondocks? Did it have any effect on your later work and philosophy?
    • Development of independent ideas
    • Importance of the Nobel Prize as a vindication of James M. Buchanan's work
    • Is the Nobel Prize of Economics a good idea?
    • Opinion of Frank Knight about the obligation of making the world a better place
    • Justification of academic existence in economical science
  • 44:04    |    
    Geography and wealth
    • Social mobility in societies: Differences between the United States and Europe
    • Forms of social coercion in the social structure
    • Subject of discrimination: Experience in the World War II
    • Why do you criticize the inherited wealth and the establishment of social pyramids?
    • Gross inequality of opportunities and the fair game
  • 54:02    |    
    Is the whole thing an absurd?
    • French existentialist position of absurdity in life
    • Religion as the organization of life
    • Influence of Albert Camus and the n
  • 56:42    |    
    Interest in leaving behind an inheritance to the world
  • 59:24    |    
    Final credits

A Conversation with James M. Buchanan (Part II)

During the second part of this conversation, Nobel Prize winner in Economics, James M. Buchanan gives his insights on topics such as work ethic, anarchy, federalism, subjectivism, and tells anecdotes of his personal experiences and philosophy. He believed that there was economic content in the work ethic and that by working harder a general benefit would be obtained, differing from the neoclassical theory paradigm. In regards to the subjectivism present in his work on public debt, he claims to have come to that understanding independently, though the reading of F.A. Hayek, reinforced his thinking. Also, he comments that working in rather small and less academically acknowledged universities, allowed him to independently develop his own ideas and not be influenced by established structures of thinkers, consequently, that gave him more freedom to follow his intellectual pursuits. As the conversation ends, Buchanan analyzes his particular interest in what will happen when he is no longer alive, and concludes by stating that the spirit of classical liberalism provides meaning to lives and it has to be constantly motivated so it can transcend mortality.


James M. Buchanan, Jr. (1919-2013) was an American economist. He was…


Nuestra misión es la enseñanza y difusión de los principios éticos, jurídicos y económicos de una sociedad de personas libres y responsables.

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