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April 10, 2026
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"1. He developed the “theory of clubs,” which sets out the conditions under which private associations supply excludable public goods at optimum levels. 2. For his time he had the best and most rigorous analysis of the incidence of public debt. 3. With Gordon Tullock he pioneered the economic analysis of voting rules in terms of transactions costs and external costs imposed on others. Any current blogosphere discussion of say the filibuster will rely on this approach, though we now take it so for granted we don’t realize how impressive it was at the time. 4. He had pioneering economic analyses of bicameralism, logrolling, and other aspects of legislatures, again with Tullock. 5. Along with Harsanyi, he formulated aspects of the “original position” before Rawls did and he was a major influence on Rawls. By the way, I have seen Buchanan numerous times with top professional philosophers, and he has no problem holding his own or better. 6. He helped pin down, including on the technical side, the economic concept of externality. 7. He provided the most important revision to optimal tax theory since Ramsey, namely the point that supposedly efficient methods of taxation can be too easy to use. That was in The Power to Tax, with Brennan. His piece on static vs. dynamic versions of the Laffer curve, with Dwight Lee, is also significant. 8. He provided a public choice analysis of why Keynesian economics would not lead to the appropriate budget surpluses during good times and thus would contain dangerous ratchet effects toward excess deficits. 9. He thought through the conflict between subjective and objective notions of value in economics, and the importance of methodologically individualist postulates, more deeply than perhaps any other economist. Most economists hate this work, or refuse to understand it, either because it lowers their status or because it is genuinely difficult to follow or because it requires philosophy. Yet it stands among Buchanan’s greatest contributions even if a) I do not myself agree with his approach, and b) I do not think it is easily summarized or even well-explained. Buchanan took Knight and Shackle very seriously and he understood that the typical pragmatic dismissal of their caveats was not in fact well-founded. 10. His Hayekian work on “order defined only through the process of emergence” and “economics as a science of exchange and catallactics” is a very important take-down of the scientific pretensions of much of economics. It doubted whether the notion of efficiency could be independently conceptualized at all. Again, this work is disliked or ignored. Buchanan may be going too far, but it is a very important and neglected perspective. 11. He thought more consistently in terms of “rules of the games” than perhaps any other economist. This point remains underappreciated and underapplied. It makes technocracy out to be a fundamentally different endeavor. 12. He did important work in the history of economic thought, reviving interest in the Italian school of public finance and public choice. 13. His late papers with Yoon on the work ethic, increasing returns, and economic growth remain underappreciated. I also admire his work with Yoon on the anti-commons."
"A version of the old fable about the king's nakedness may be helpful here. Public choice is like the small boy who said that the king really has no clothes. Once he said this, everyone recognized that the king's nakedness had been recognized, but that no-one had really called attention to this fact."
"Economics is the study of the whole system of exchange relationships. Politics is the study of the whole system of coercive or potentially coercive relationships."
"In short, if Buchanan's argument was that liberal demands for an ever expanding welfare state would lead to chronic deficits, history has shown him to be wrong. If the argument is that the desire for tax cuts and increased military spending, coupled with macroeconomic mismanagement, could lead to large deficits, there is a strong case."
"Individuals do not act so as to maximize utilities described in independently-existing functions. They confront genuine choices, and the sequence of decisions taken may be conceptualized, ex post (after the choices), in terms of “as if” functions that are maximized. But these “as if” functions are, themselves, generated in the choosing process, not separately from such process. If viewed in this perspective, there is no means by which even the most idealized omniscient designer could duplicate the results of voluntary interchange. The potential participants do not know until they enter the process what their own choices will be. From this it follows that it is logically impossible for an omniscient designer to know, unless, of course, we are to preclude individual freedom of will."
"I did not call him "Fritz." To me he remained always "Professor Hayek," despite his own graciousness in treating me as a peer. I shall not attempt to evaluate Professor Hayek's monumental contribution to our understanding of the events of this turbulent century, to the influence of his ideas on these events themselves or even to the development of economic theory in a strictly scientific sense."
"Well, we haven’t learnt yet to live together peacefully... But I don’t know what progress really means. Anyway, I think we need to have faith in the fact that there is more out there to be explained. Even the paradigms that we now have, including subjective value theory, for example, are only provisional. Some physicist might believe that ultimately, we will be able to explain everything. To me, that is utterly stupid, just like saying that an atheist is equally dogmatic as a Texas Baptist. It seems to me that, if you accept evolution, you can still not expect your dog to get up and start talking German. And that’s because your dog is not genetically programmed to do that. We are human animals, and we are equally bound. There are whole realms of discourse out there that we cannot reach, by definition. There are always going to be limits beyond which we cannot go. Knowing that they are there, you can always hope to move a little closer – but that’s all."
"The hard core in public choice can be summarized in three presuppositions: (1) methodological individualism, (2) rational choice, and (3) politics-as-exchange."
"What is this thing anyway? Nothing but a piece of cotton with a little paint on it, and some other marks in the corner there. I will not kiss that thing. It might be covered with microbes."
"In the matter of his offense and sentence, obviously petitioner was more sinned against than sinning. It is clear that he was in the hands of one of those too common mobs, bent upon vindicating its peculiar standard of patriotism and its odd concept of respect for the flag by compelling him to kiss the latter—a spectacle for the pity as well as the laughter of gods and men! Its unlawful and disorderly conduct, not his just resistance, nor the trivial and innocuous retort into which they goaded him, was calculated to degrade the sacred banner and to bring it into contempt. Its members, not he, should have been punished.Patriotism is the cement that binds the foundation and the superstructure of the state. The safety of the latter depends upon the integrity of the former. Like religion, patriotism is a virtue so indispensable and exalted, its excesses pass with little censure. But when, as here, it descends to fanaticism, it is of the reprehensible quality of the religion that incited the massacre of St. Bartholomew, the tortures of the Inquisition, the fires of Smithfield, the scaffolds of Salem, and is equally cruel and murderous. In its name, as in that of Liberty, what crimes have been committed! In every age it, too, furnishes its heresy hunters and its witch burners, and it, too, is a favorite mask for hypocrisy, assuming a virtue which it haveth not. So the mobs mentioned were generally the chosen and the last resort of the slacker, military and civil, the profiteer, and the enemy sympathizer, masquerading as superpatriots to divert attention from their real character. Incidentally, it is deserving of mention here that in the records of this court is a report of its grand jury that before it attempts had been made to prostitute the federal Espionage Law to wreak private vengeance and to work private ends.As for the horrifying sentence itself, it is of those criticized by Mr. Justice Holmes in Abrams' Case, 250 U. S. 616, 40 Sup. Ct. 17, 63 L. Ed. 1173, in that, if it be conceded trial and conviction are warranted, so frivolous is the charge that a nominal fine would serve every end of justice. And it, with too many like, goes far to give color, if not justification, to the bitter comment of George Bernard Shaw, satirist and cynic, that during the war the courts in France, bleeding under German guns, were very severe; the courts in England, hearing but echoes of those guns, were grossly unjust; but the courts of the United States, knowing naught save censored news of those guns, were stark, staring, raving mad. All this, however, cannot affect habeas corpus. It can appeal to the pardoning power alone.The state law is valid, petitioner's imprisonment is not, repugnant to the federal Constitution, this court cannot relieve him, and the writ is denied."
"By far the harshest penalty for "flag desecration" in American history was handed our during World War I to a Montana man, E. V. Starr, who under the 1918 Montana law, which became the model for the 1918 federal Sedition Act (document 2.18), was given a $500 fine and a jail term of ten to twenty years at hard labor for refusing a mob's demands to kiss a flag and for terming it "nothing but a piece of cotton" with a "little paint" and "some other marks" on it which "might be covered with microbes." Considering the case on appeal, Federal district court judge George Bourquin termed the sentence a "horrifying" one that justified George Bernard Shaw's comment that American courts had gone "stark, staring, raving mad" during the war; Bourquin also labeled the mob that had assaulted Starr "heresy hunters" and "witch burners." Nonetheless, he concluded that he was powerless to intervene, because the Montana state law was clearly constitutional under the Halter precedent (document 3.25)."
"The overwhelming focus of post-Halter flag desecration enforcement on incidents with political significance is further highlighted by the clustering of cases around the period of World War I and the postwar Red Scare and World War II, which were times of intensified patriotic-nationalistic fervor and decreased tolerance for dissent. ... The most extreme penalty for oral flag desecration was handed down under Montana's draconian 1918 law: E. V. Starr was sentenced during World War I to ten to twenty years at hard labor in the state penitentiary, along with a $500 fine, for refusing a mob's demands that he kiss the flag (a favorite wartime vigilante punishment for the allegedly disloyal) and for terming it "nothing but a piece of cotton" with "a little paint" and "some other marks" on it which "might be covered with microbes."16"
"The permeability of the boundary between outlawing disrespect and compelling respect for the flag became especially clear during periods of crisis. During World War I, hundreds of people suspected of political dissidence or merely of insufficiently enthusiastic patriotism were, as in the Starr case, attacked by mobs that sought to compel them to kiss the flag, often while government officials looked the other way or joined in."
"In compliance with Section Three of the Uniform State Flag Law, subversive elements could be arrested not only for supporting the enemy, but also casting contempt upon the flag by word or deed (Guenter, 1990). In a case that demonstrates the unforgiving nature of compulsory patriotism during that period, E. V. Starr was arrested under the Montana sedition law for refusing a mob's demand that he kiss the flag and for denouncing it as "nothing but a piece of cotton" with "a little bit of paint." For that transgression, Starr was sentenced to hard labor in the state penitentiary for 10 to 20 years, along with a $100 fine (Ex Parte Starr 1920; refer to Chapter 3). Incidentally, the Montana sedition law (replete with provisions for flag protection) served as a model for the federal Sedition Act. During the First World War, several states increased penalties for flag desecration: in Louisiana and Texas violations were punishable by five and twenty-five years in prison, respectively."
"Following the Civil War, flag protectionists targeted other forms of desecration, particularly abuses in the realm of commercialism. In 1907, the U.S. Supreme Court upheld Halter v. Nebraska, a case in which two businessmen were fined $50 for selling a bottle of "Stars and Stripes" brand beer--a violation of the Nebraska state flag desecration law. Soon the flag-protection movement would shift its focus from the commercial to the political arena in efforts to apprehend violators of flag desecration statutes. During the tense period leading up to U.S. involvement in World War I, the war itself, and the Red Scare of 1919-1920, flag-protection enthusiasts set their sights on political dissidents, especially such leftists as pacifists, labor organizers, anarchists, and communists. Interestingly, though, even mainstream citizens who chose not to consecrate the flag were subject to draconian penalties. E. V. Starr was arrested under Montana law for refusing a mob's demand that he kiss the flag and for terming it "nothing but a piece of cotton" with "a little bit of paint." For this violation, Starr was sentenced to hard labor in the state penitentiary for 10 to 20 years, along with a $100 fine (Ex Parte Starr, 1920:146-47; see Goldstein, 1995; Welch, 1999a)."
"728. Moral anarchy. The antagonism between a virtue policy and a success policy is a constant ethical problem. The Renaissance in Italy shows that although moral traditions may be narrow and mistaken, any morality is better than moral anarchy. Moral traditions are guides which no one can afford to neglect. They are in the mores and they are lost in every great revolution of the mores. Then the men are morally lost. Their notions, desires, purposes, and means become false, and even the notion of crime is arbitrary and untrue. If all try the policy of dishonesty, the result will be the firmest conviction that honesty is the best policy. The mores aim always to arrive at correct notions of virtue. In so far as they reach correct results the virtue policy proves to be the only success policy."
"About half a century before the Depression, a Yale philosopher named William Graham Sumner penned a lecture against the progressives of his own day and in defense of classical liberalism. The lecture eventually become an essay, titled "The Forgotten Man". Applying his own elegant algebra of politics, Sumner warned that well-intentioned social progressives often coerced unwitting average citizens into funding dubious social projects."
"What we prepare for is what we shall get."
"Civil liberty is the status of the man who is guaranteed by law and civil institutions the exclusive employment of all his own powers for his own welfare."
"The history of civil liberty is made up of campaigns against abuses of taxation. Protectionism is the great modern abuse of taxation; the abuse of taxation which is adapted to a republican form of government. Protectionism is now corrupting our political institutions just as slavery used to do."
"You see the expansion of industrial power pushed forward by the energy, hope, and thrift of men, and you see the development arrested, diverted, crippled, and defeated by measures which are dictated by military considerations."
"It is often said that the earth belongs to the race, as if raw land was a boon, or gift."
"The man who started with the notion that the world owed him a living would once more find, as he does now, that the world pays him its debt in the state prison."
"Gentlemen, the time is coming when there will be two great classes, Socialists, and Anarchists. The Anarchists want the government to be nothing, and the Socialists want government to be everything. There can be no greater contrast. Well, the time will come when there will be only these two great parties, the Anarchists representing the laissez faire doctrine and the Socialists representing the extreme view on the other side, and when that time comes I am an Anarchist."
"As soon as A observes something which seems to him to be wrong, from which X is suffering, A talks it over with B, and A and B then propose to get a law passed to remedy the evil and help X. Their law always proposes to determine what C shall do for X, or in the better case, what A, B, and C shall do for X. … What I want to do is to look up C. I want to show you what manner of man he is. I call him the Forgotten Man. Perhaps the appellation is not strictly correct. He is the man who never is thought of. … He works, he votes, generally he prays—but he always pays."
"If I want to be free from any other man’s dictation, I must understand that I can have no other man under my control."
"Any prosperity policy is a delusion and a path to ruin. There is no economic lesson which the people of the United States need to take to heart more than that. In the second place the Spanish mistakes arose, in part, from confusing the public treasury with the national wealth."
"If you look at other so-called children’s authors, you’ll see they never wrote directly for children. Though Lewis Carroll dedicated his book to Alice, I feel it was an afterthought once the whole was already committed to paper. Beatrix Potter declared, “I write to please myself!” And I think the same can be said of Milne or Tolkien or Laura Ingalls Wilder."
"Now is now. It can never be a long time ago."
"The Little House books are stories of long ago. The way we live and your schools are much different now, so many changes have made living and learning easier. But the real things haven't changed. It is still best to be honest and truthful; to make the most of what we have; to be happy with simple pleasures and to be cheerful and have courage when things go wrong."
"There's no great loss without some small gain."
"Remember me with smiles and laughter, for that is how I will remember you all. If you can only remember me with tears, then don't remember me at all."
"I am beginning to learn that it is the sweet, simple things of life which are the real ones after all."
"I think libertarianism does appeal to most people because that's how we lead our lives until the state gets involved. We lead our lives in voluntary interactions with other folks, and we follow what libertarians call the nonaggression axiom which means you're not supposed to initiate force against someone else except, of course, in defence of your own liberty or property. So that's something that's the Golden Rule, and that's something we can all relate to."
"There have been many [libertarian writers who have inspired me]: Milton Friedman, Murray Rothbard—just-just a number of people who have influenced me—Mary Ruwart, Harry Browne who ran for president as a Libertarian a couple times—so there've been a number of people."
"The whole idea, the whole premise of taxation needs to be examined. It's based on theft."
"Any tax rate is actually overtaxation."
"The great thing about libertarianism is [that] it really is the American Dream—it is the ability of everybody to live their life, to build their life, according to what they want so long as you don't hurt anybody else."
"Once you come across Rothbard, it's all over with. The arguments he makes are so logical and they're so faultless that you really can't disagree with him."
"I think nullification would be a very good thing."
"There is no way to sort-of compartmentalise human liberty into "okay, I have social liberty and I have economic freedom." No, they're the same thing. You have— If you don't have economic freedom, you don't have personal liberty, and vice versa, if you don't have personal liberty, you don't have economic freedom, either."
"He has made more people realise that they're libertarians perhaps than anyone in history with the Ron Paul Revolution and all of the things that it launched."
"What is it—medieval serfs paid about twenty-five percent of their crops to the estate lord, to the manor lord, and Americans are paying fifty percent in taxes by the time you figure out income tax and then all the various state and local taxes, and, to think we're not, y'know, overtaxed is insane."
"Then I realised that it really is a philosophy that we're talking about, you know—the nonaggression axiom, that the government should be bound by the same moral laws that the rest of us are. Once you realise that, you're like, "Oh!" Your entire world opens up, and then your entire paradigm changes."
"Keynesian economics is really just models and numbers and how things would work in a laboratory, not how things work in the real world. The beauty of Austrian economics is [that] it studies how things work in the real world. Economics is not a predictive science, okay? You can't say, "If we do this, this is what's gonna happen." It is a descriptive science; in other words, it describes what's going on. Austrian economics says the economy runs itself, and all that we're trying to do is understand how the economy really works."
"I think, as a society, though, I think more and more people are starting to question this idea that the government can do anything, [that] it has some sort of magical power to solve all of the problems; in fact, I think more and more people are coming to the conclusion that government is the problem."
"Thanks to @DDPYoga and low carbs for making 55 look (and feel) this good!"
"So a federal government agency convinced a private company to shadow ban a story which turned out to be true and had massive implications on a presidential election. This is borderline fascism and should worry everyone."
"Along with 54 other Tennessee county mayors and executives, I signed a letter to @GovBillLee @ltgovmcnally @CSexton25 @TNattygen with concerns about @POTUS 's overreach and encouraging them to continue to protect the rights of Tennesseans to make our own health care decisions."
"Today we remember the 13 service members that tragically lost their lives in Afghanistan. We will never forget their service to our nation. Please continue to keep their families in your prayers."