Nobel laureate James M. Buchanan laid down a new foundation for political economy and classical liberalism. To understand its development, it’s helpful to note Buchanan’s indebtedness to the writings of Frank Knight, Knut Wicksell, and Italian public-finance scholars.

Christopher J. Coyne is a Senior Fellow at the Independent Institute, Professor of Economics at George Mason University, and Co-Editor of The Independent Review. He is the author of the new book, In Search of Monsters to Destroy: The Folly of American Empire and the Paths to Peace.
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Other Independent Review articles by Christopher J. Coyne
Fall 2023 Kenneth Boulding: Knowledge, Conflict, and Power
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