An anticommons problem arises when there exist multiple rights to exclude. In a lengthy law review paper, Michael A. Heller has examined "The Tragedy of the Anticommons," especially in regard to disappointing experiences in efforts to shift from socialist to market institutions in Russia. In an...

This note forms the introduction to a book entitled: Individualism and Political Disorder. It helps to contextualize the rest of the articles in the book. The chapters in the book are papers written by James M. Buchanan, singly or jointly with Yong J. Yoon, after the publication of his collected...

As worked out a century ago, the neoclassical theory of distribution was analytically as well as ideologically satisfying. The simultaneous determination of input and output prices through the operation of factor and product markets seemed to close the explanatory gap left by the classical...

James Madison noted that government would be unnecessary if men were angels. The shortfall of value between the idealized anarchy of a society of angels and the society of men as they are measures the tragedy of politics, which emerges at several levels. Resources are required for the...

Introduction -- Chapter 1: The Impact of The Calculus of Consent -- Chapter 2: Institutions and Constitutions: The Economic World of James M. Buchanan -- Chapter 3: On Some Neglected, But Profound, Contributions of Gordon Tullock -- Chapter 4: Buchanan on Freedom -- Chapter 5: Choice vs...