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April 10, 2026
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"Historians are concerned with events which can be assigned to specific timespace locations, events which are (or were) in principle observable or perceivable, whereas imaginative writers â poets, novelists, playwrights â are concerned with both these kinds of events and imagined, hypothetical, or invented ones."
"Now, I want to make clear that I am myself using these terms as metaphors for the different ways we construe fields or sets of phenomena in order to âwork them upâ into possible objects of narrative representation and discursive analysis. Anyone who originally encodes the world in the mode of metaphor, will be included to decode it â that is, narratively âexplicateâ and discursively analyze it â as a congeries of individualities."
"This movement between alternative linguistic modes conceived as alternative descriptive protocols is, I would argue, a distinguishing feature of all the great classics of the âliterature of fact.â"
"The basic concern of Buchanan (e.g. Buchanan, 1975) is to deny that a libertarian position requires the making of ethical judgments of the kind made by social philosophers who 'play God'. ... It follows that liberalism is about determination of the 'correct' contractual procedures which will allow individuals to consent to intervention by government. That procedure, if it is to be compatible with an individualist position, requires, so far as is practically possible, unanimous consent. Therefore, the common procedure used by economists to identify a social welfare function which is then to be 'maximized' implicitly rejects the individualistic decision-making process, which is the only mechanism through which individuals both express preferences and have them acted upon. To claim that preferences can be revealed and acted upon by governments, unencumbered by individuals' consent, is to presuppose that they and their officials will always act in an enlightened and wholly disinterested way. It is a curious paradox that, in the light of Buchanan's distaste for Keynesian elitism (see Buchanan, 1991), there are elements in Keynes's rather fragmentary thinking on political matters which express a sympathy with an individualistic stance."
"His great mind is now still, but he lives on in the ideas he passed on to his students, colleagues, and friends. It has been said that only poets and songwriters are immortal, but as an economist, Jimâs work surely approaches immortality because it will continue to be read and discussed throughout time to come. We still read Adam Smith (at least some of us), and it is a good bet that over 200 years from now, young scholars will pore over Jimâs articles and books in search of ideas, insights, and inspiration. This may not be an eternity, but it is a very long half-life. Better yet, maybe some future political generation will see fit to put our fiscal house in order and in so doing pay homage to our memory of Jim Buchanan. Rest in peace."
"Unlike Kenneth J. Arrow or Robert M. Solow, Buchanan is not a puzzle solver, but rather a system builder, someone who has come up with a whole new paradigm, an innovative way of looking at the world in general and at politics or collective choice in particular (see Horn, 2009, pp. 85â90.) As mentioned, the roots of this are to be found largely in his personal background and his experience and cultural inheritance as a Southerner. From the outset, what interested him more than anything else was how it is possible for people to live in society without infringing on each otherâs rights."
"Buchananâs work changed political economy in fundamental ways. Thanks to him and his colleagues, three things are true: No one who wishes to talk responsibly about politics can be ignorant of public choice theory. No one should ever invoke the language of market failure (including externalities) without having digested his work on government failure. And people who run around talking about the constitution better be able to understand something of his contributions to constitutional political economy."
"The basic idea of Buchanan's constitutional economics was that public decision really comes in two stages, not one: the constitutional stage, and the political stage. People generate constitutions that create an institutional environment constrained in ways that they perceive to be beneficial. This has implications for how we think about the subsequent political stage. It rejects that Lysander Spooner take on things that says that unanimous consent is required for just policy decisions, because people will consent to a constitutional arrangement where legislation passes with less than unanimous consent because they think that the whole package of policy that such an institutional environment produces is preferable to policy produced in a unanimous consent environment. You can think about it as a sort of nested optimization."
"1. He developed the âtheory of clubs,â 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 donât 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 âoriginal positionâ 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 Buchananâs 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 âorder defined only through the process of emergenceâ and âeconomics as a science of exchange and catallacticsâ 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 ârules of the gamesâ 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."
"I see at least six James Buchanans: 1. The brilliant academic thinker behind the genius insights of Calculus of Consent. [âŚ] 2. The academic operator seeking to get money from ex-Governor and U.Va. President Darden for the great public choice research project by overpromising how useful his Thomas Jefferson Center for Political Economy would be in providing intellectual weapons to strengthen the political causes of Darden and his friends. 3. The academic operator going beyond what I, at least, regard as the permissible academic pale by imposing a political-ideological litmus test on who he invited into the public choice circleâi.e., not Mancur Olson, or any Olson students or potential Olson students (like me, in my younger days). [âŚ] 4. The grandson of Kentucky Governor John Buchanan, offended that Yankees would dare tell southern gentlemen how to deal with their "peculiar institutions". (And just what are these "Western traditions"? And how near to the core of these "Western traditions" is white supremacy anyway? That the language here is Aesopian is not to Buchanan's credit.) 5. The friend of plutocrats or would-be plutocrats buying into the Hayekian idea that political democracy was, fundamentally, a mistake because the plebes would vote themselves bread-and-circuses and so ultimately destroy civilization. 6. The right-wing activist seeking, in a von Misian or Rothbardian way, to harness and in fact mobilize racial evil to the service of what he regarded as the good of stomping the New Deal and Keynesian economics into oblivion."
"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."
"The hard core in public choice can be summarized in three presuppositions: (1) methodological individualism, (2) rational choice, and (3) politics-as-exchange."
"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."
"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 âas ifâ functions that are maximized. But these âas ifâ 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 havenât learnt yet to live together peacefully... But I donât 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 thatâs 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 â but thatâs all."
"Real friends are those people who will stand for you expressing yourself fully, who will go out of their way to support you to keep your word, to go the extra mile, to get out of the box, to make your dreams come true."
"True independence means being free from the domination of your own internal automatic behaviors, not doing what you feel like when the urge strikes."
"If you want great relationships, live your life fully. Your enthusiasm will spark those around you, who then become better company themselves."
"It takes courage to be the author of your life. When you are struggling through one of the difficult parts of turning your dreams into reality, you may wonder why you always get stuck with having to put up with so much fear and uncertainty. Why, you wonder, couldn't I feel more courageous, like those other people do. You don't feel courageous because courage is not an emotion. There is no such thing as feeling "courageous". It is an imaginary emotion. Courage consists of doing what you said you would do even when you don't want to. In the face of danger you have a choice to be the delegate of either your commitments or your feelings. It's as simple and as difficult as that."
"You are the author of your life, the inventor of your future, the agent of your intentions."
"A passionately lived life is not always comfortable. Going for it involves being open to all of life - the joys, the sorrows, the mundane as well as the magic, the splendid victories, the most abject defeats. You might even stop closing your eyes during the scary parts of the movie."
"Greatness is often born of the passionate dance between a rare talent and a noble purpose."
"It takes committed, high energy, full-tilt boogie participation to have the kind of life you want."
"The way to âfindâ the perfect career is to give up the notion that you will ever find it, stumble across it, or that it will somehow magically find you, and to get to work designing it."
"The willingness to feel fear and keep going forward distinguishes the living from the merely breathing. In fact, it is not just the so-called negative emotions that are uncomfortable. When you choose to live fully, your palate of experiences, thoughts, emotions, and possibilities expands. This leads you onto new ground in other areas of your life as well. And, folks, all that newness swirling around just ainât comfortable."
"Just because you have long legs doesn't mean you'll be happy as a Rockette."
"The question is not whether to take risks, but which ones to take. The peril of being reasonable is that you will miss all the fun. Itâs not enough to cautiously edge your way toward the cliff. Learn to revel in taking risks for the sake of your soul. Every choice you make gives birth instantly to certain risks as surely as your shadow follows you."
"The secret to perseverance is a simple one: have a bigger commitment to getting the job done than to attempting to control your inner feelings and sensations."
"Since you may never discover the truth, invent it."
"Everyone else on the planet, from the lowest amoebae to the great blue whale, expresses all their component elements in a perfect dance with the world around them. Only human beings have unfulfilled lives."
"Go for vitality, not comfort."
"How can someone say theyâre successful if theyâre not happy doing their work?"
"If you surrender, you shall be treated as prisoners of war, but if I have to storm your works, you may expect no quarter."
"War means fighting, and fighting means killing."
"The river was dyed with the blood of the slaughtered for two hundred yards. The approximate loss was upward of five hundred killed, but few of the officers escaping. My loss was about twenty killed. It is hoped that these facts will demonstrate to the Northern people that Negro soldiers cannot cope with Southerners."
"Boys, do you hear that musketry and that artillery? It means that our friends are falling by the hundreds at the hands of the enemy, and here we are guarding a damned creek! Let's go and help them. What do you say?"
"Every moment lost is worth the life of a thousand men."
"When I entered the army I took forty-seven negroes into the army with me, and forty-five of them were surrendered with me. I said to them at the start: "This fight is against slavery; if we lose it, you will be made free.""
"I never see a pen but I think of a snake."
"I am opposed to it under any and all circumstances, and in our convention urged our party not to commit themselves at all upon the subject."
"His last notable public appearance was on the Fourth of July in Memphis, when he appeared before the colored people at their celebration, was publicly presented with a bouquet by them as a mark of peace and reconciliation, and made a friendly speech in reply. In this he once more took occasion to defend himself and his war record, and to declare that he was a hearty friend of the colored race."
"Get there first with the most men."
"Follow Forrest to the death if it costs 10,000 lives and breaks the Treasury. There will never be peace in Tennessee till Forrest is dead."
"It is in connection with one of the most atrocious and cold-blooded massacres that ever disgraced civilized warfare that his name will for ever be inseparably associated. 'Fort Pillow Forrest' was the title which the deed conferred upon him, and by this he will be remembered by the present generation, and by it he will pass into history. The massacre occurred on the 12th of April, 1864. Fort Pillow is 65 miles above Memphis, and its capture was effected during Forrest's celebrated raid through Tennessee, a State which was at the time practically in possession of the Union forces."
"Massacring surrendered black troops was consistent with Forrest's character. Forrest biography Brian Wills notes that black opponents always inflamed Forrest. After his successful raid at Murfreesboro for instance, a Confederate officer brought before Forrest 'a mulatto man, who was the servant to one of the officers in the Union forces.' Forrest cursed him and asked what he was doing there. The man replied that he was a free man, not a slave, came out as the servant to an officer, whom he named. Forrest drew his pistol and blew the man's brains out. The Confederate officer, who knew the man from Pennsylvania and had never been enslaved, 'denounced the act as one of cold-blooded murder and declared that he would never again serve under Forrest,' according to Wills. Instead of the âForrest Rested Hereâ marker on the way into Murfreesboro, Tennessee might erect a marker telling this incident on the way out–'Forrest Murders African American, July 13, 1862'. Such a marker would tell much more history than âRested,â but it too will not get put up soon in Tennessee."
"We have infinitely more respect for Longstreet, who fraternizes with negro men on public occasions, with the pay for the treason to his race in his pocket, than with Forrest and Pillow, who equalize with the negro women, with only 'futures' in payment."
"Nathan Bedford Forrest is overrated. Nathan Bedford Forrest usually gets knocked by historians for his role in the Ku Klux Klan, but praised by tacticians for the battles he won. So why is he here? Forrest often times won battles when his focus should have been elsewhere. For example, he had a great victory Brices Crossroads and faked out A. J. Smith near Memphis after losing the Battle of Tupelo, but won such glory during the time he was supposed to be destroying Sherman's supply lines, an even more important task critical to the CSA war effort. He similarly could do little against John Schofield after the Spring Hill escape."
"According to Confederate ideology, blacks liked slavery; nevertheless, to avert revolts and runaways, the Confederate states passed the 'twenty nigger law', exempting from military conscription one white man as overseer for every twenty slaves. Throughout the war, Confederates withheld as much as a third of their fighting forces from the front lines and scattered them throughout areas with large slave populations to prevent slave uprisings. When the United States allowed African Americans to enlist, Confederates were forced by their ideology to assert that it would not work; blacks would hardly fight like white men. The undeniable bravery of the 54th Massachusetts and other black regiments disproved the idea of black inferiority. Then came the incongruity of truly beastly behavior by southern whites towards captured black soldiers, such as the infamous Fort Pillow massacre by troops under Nathan Bedford Forrest, who crucified black prisoners on tent frames and then burned them alive, all in the name of preserving white civilization."