Pareto optimality is a concept in economics that deals with optimum condition of resource distribution. James Buchanan in his essay extended the idea into the political realm to understand how unanimous consensus is reached. This essay attempts to examine whether he was justified in using the...

Recommended readings (Machine generated): 20. Kenneth J. Arrow (1969), 'Values and Collective Decision-Making', in Peter Laslett and W.G. Runciman (eds), Philosophy, Politics and Society: Third Series, Oxford, UK: Basil Blackwell, 215-32 -- 21. Amartya Sen (1995), 'Rationality and Social...

This short essay is a memorial piece about William A. Niskanen (13 March 1933–26 October 2011). The essay starts with his time at the University of Chicago in the mid-1950s, and gives most attention to his contributions to public choice. Especial attention is paid to his Bureaucracy and...