00:00    |    
Initial credits
00:14    |    
The Intellectual Portrait Series
00:26    |    
Introducing James M. Buchanan
Early years
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  Increase Returns and Economic Progress, 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  Public Principles of Public Debt: A Defense and Restatement, 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  The Calculus of Consent, 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  The Limits of Liberty, James M. Buchanan (1975)
Quotes  The Social Dilemma, 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 Myth of Sisyphus 
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 awarded as Nobel Laureate in Economics in 1986 for…


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

Universidad Francisco Marroquín