James M. Buchanan’s 1969 book Cost and Choice speaks directly to the socialist calculation debate from the perspective of the “London Tradition” in the theory of cost. More than this, however, it places Buchanan alongside Adam Smith, Friedrich Hayek, and Milton Friedman as an exemplar of...

We explore some of the key themes in the Nobel Prize-winning economist James M. Buchanan'sclassic works, showing how his ethical thinking, particularly in his Ethics and EconomicProgress, apply to the problems facing firms and workers. We also explore how Buchanan'sethical arguments pertain to...