"I would say that Buchanan makes two mistakes here: (1.) a history of thought mistake, in diagnosing exactly what Keynesians and their models say or assume, and (2.) an analytic mistake, in addressing how we should expect this to play out. The first is actually easily corrected. The second is a little more involved, I think. But the empirical evidence makes it pretty clear that he was wrong, I think. Think of every argument we've had about fiscal policy and the debt in the last several years. This is clearly not a world where Keynesian economics is driving policy in an over-indebted direction. The picture is complicated by (1.) automatic stabilizers, and (2.) long term trends in entitlements that have nothing to do with deficit financing or Keynesian stabilization. I think that's part of what throws people. I'd like to explore this more, but I'm still not sure if it's worth the investment of time."
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Daniel Kuehn, "The Significance of James Buchanan" (2013)
https://en.wikiquote.org/wiki/Democracy_in_Deficit
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Democracy in Deficit
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