James M. Buchanan (Electronic book text)

James McGill Buchanan (B. 1919) is an American economist best known for his public choice theory. The founder of a new Virginia school of political economy, he has written extensively on subjects including public finance, macroeconomics, and libertarian theory. Buchanan's theory offered a basis for conservative political endeavors such as a constitutional amendment to balance the federal budget. He was awarded the Nobel Prize in Economics in 1986.