Origins & Early Life

James McGill Buchanan Jr. ( bew-KAN-ən; October 3, 1919 – January 9, 2013) was an American economist known for his work on public choice theory originally outlined in his most famous work, The Calculus of Consent, co-authored with Gordon Tullock in 1962. He continued to develop the theory, eventually receiving the Nobel Memorial Prize in Economic Sciences in 1986. Buchanan's work initiated research on how politicians' and bureaucrats' self-interest, utility maximization, and other non-wealth-maximizing considerations affect their decision-making.

Pivotal Works & Achievements

He was a member of the Board of Advisors of The Independent Institute as well as of the Institute of Economic Affairs, a member of the Mont Pelerin Society (MPS) and MPS president from 1984 to 1986, a Distinguished Senior Fellow of the Cato Institute, and professor at George Mason University. Buchanan was born in Murfreesboro, Tennessee, the eldest of the three children of Lila (née Scott) and James Buchanan. His paternal grandfather, John P. Buchanan, was governor of Tennessee from 1891 to 1893. He was a great-great-grandson of Major John Buchanan, an early Tennessee settler and the founder of Buchanan's Station...

Enduring Legacy & Impact

The historical impact and works continue to influence the modern world.

Contemporary Figures & Related Historical Timelines

• Akashi Motojiro — Contemporary (Died in 1919) (1919): General in the Imperial Japanese Army and Governor-General of Taiwan.
• Alfred Werner — Contemporary (Died in 1919) (1919): Pioneering Swiss chemist who established modern coordination chemistry.
• Andrew Carnegie — Contemporary (Died in 1919) (1919): Scottish-American industrialist who pioneered the American steel industry and became a major philanthropist.
• Bernadette Lafont — Contemporary (Died in 2013) (2013): Iconic French actress, celebrated for her role in the New Wave movement.
• Bobby Bland — Contemporary (Died in 2013) (2013): Pioneering blues and soul artist known for tempestuous arias of love and betrayal.
• Boris Berezovsky (businessman) — Contemporary (Died in 2013) (2013): Russian oligarch and businessman known for accumulating vast wealth through privatization.
• Akio Morita — Shared historical date (10-03 · Died) (1999): Visionary Japanese entrepreneur and co-founder of Sony.
• Albert Günther — Shared historical date (10-03 · Born) (1830): Pioneering zoologist and ichthyologist, renowned for extensive systematic descriptions of reptiles and fish.
• Adrien-Marie Legendre — Shared historical date (01-09 · Died) (1833): Pioneering French mathematician known for Legendre polynomials and least squares method.
• Alvah Curtis Roebuck — Shared historical date (01-09 · Born) (1864): Co-founder of Sears, Roebuck and Company, pioneering American retail businessman.
• 1919 Historical Timeline & Archive — Explore world events and figures from 1919
• October 3 (10-03) On This Day — Historical birthdays and events on October 3
• 2013 Historical Timeline & Archive — Explore world events and figures from 2013
• January 9 (01-09) On This Day — Historical events and memorials on January 9