James Buchanan and the Properly Trained Economist

In Richard E. Wagner, ed. James M. Buchanan: A Theorist of Political Economy and Social Philosophy. New York: Palgrave Macmillan, 2019, pp. 65–83.

GMU Working Paper in Economics No. 18-17

19 Pages Posted: 19 Jun 2018 Last revised: 28 Oct 2019

See all articles by Peter J. Boettke

Peter J. Boettke

George Mason University - Department of Economics; Mercatus Center at George Mason University

Rosolino Candela

George Mason University - Mercatus Center

Date Written: May 24, 2018

Abstract

Throughout his career, James Buchanan displayed a remarkable consistency regarding the didactic role of the properly trained economist. As he would say, it takes varied iterations to force alien concepts upon reluctant minds. What he regarded as the role of the properly trained economist is just a variation on his understanding of constitutional political economy. According to Buchanan, properly trained economists occupy dual, roles as economic scientists and political economists. As economic scientists they understand how spontaneous orders emerge as a result of self-interested behavior under alternative institutional arrangements. As political economists they may propose changes to existing institutions for the purpose of better facilitating the mutually shared goals among free and responsible individuals. Such proposals are not technical advice to a benevolent dictator, but conjectures about Pareto improvements to be tested through democratic deliberation. These related, but distinct, roles, have a non-normative and didactic basis, which is to teach citizens of a democratic society that there are opportunities for mutual gains from trade.

Keywords: James Buchanan; Economic Science; Political Economy

JEL Classification: B31; B41; D01

Suggested Citation

Boettke, Peter J. and Boettke, Peter J. and Candela, Rosolino, James Buchanan and the Properly Trained Economist (May 24, 2018). In Richard E. Wagner, ed. James M. Buchanan: A Theorist of Political Economy and Social Philosophy. New York: Palgrave Macmillan, 2019, pp. 65–83. , GMU Working Paper in Economics No. 18-17, Available at SSRN: https://ssrn.com/abstract=3189882 or http://dx.doi.org/10.2139/ssrn.3189882

Peter J. Boettke

George Mason University - Department of Economics ( email )

4400 University Drive
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Mercatus Center at George Mason University ( email )

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Rosolino Candela (Contact Author)

George Mason University - Mercatus Center ( email )

3434 Washington Blvd., 4th Floor
Arlington, VA 22201
United States

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