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Summer 2015

ISSN 0890-913X

Volume 30, Number 2

Categories: Summer 2015 | History

How James Buchanan Came to George Mason Univeristy

Karen I. Vaughn, George Mason University

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TheJournalofPrivateEnterprise30(2),2015,103–109HowJamesBuchananCametoGeorgeMasonUniversityKarenI.VaughnGeorgeMasonUniversity______________________________________________________AbstractIn1983,JamesBuchanan,directoroftheCenterforStudyofPublicChoiceatVirginiaPolytechnicInstituteandStateUniversityandfutureNobelPrizewinnerineconomics,movedtheentirePublicChoiceCenterwithitssevenfacultymemberstoGeorgeMasonUniversity.Atthetime,GeorgeMasonwasayoungandlargelyunknownstateuniversity.Recruitingsomanyrelativelyexpensivefacultytojoinonedepartmentinachronicallyunderfundedschoolrepresentedasignificantriskfortheuniversityadministration.Yet,therewardsconsequenttothatmoveturnedouttobewellworththerisk.Theimmediatebenefitwasthatboththeeconomicsdepartmentandtheuniversityasawholegainedinstantprofessionalrecognition,tothebenefitoffacultyandstudentsalike.Inthelongrun,recruitingthePublicChoiceCenterwasthecatalystforthesubsequentremarkablegrowththeuniversityenjoyedbothinsizeandinacademicaccomplishment.______________________________________________________JELcodes:B25,B31Keywords:JamesBuchanan,PublicChoiceCenter,GeorgeMasonUniversityI.IntroductionJamesBuchananiswellknownasamajorcontributortotheeconomicsprofession.AstheauthorofseminalworkssuchasTheCalculusofConsent(withGordonTullock,1962),PublicPrinciplesofPublicDebt(1958),TheLimitsofLiberty(1975),andTheReasonofRules(withGeoffreyBrennan,1985),hewasacofounderofthefieldofpublicchoice,andhewasthefounderofthefieldofconstitutionaleconomics.Soimportantwashisworkthatin1986,hewasawardedtheNobelPrizeineconomics“forhisdevelopmentofcontractualandconstitutionalbasesforthetheoryofeconomicdecisionmaking.”WhilemostprofessionaleconomistsrecognizetheimportanceofBuchanan’splaceinlatetwentiethcenturyeconomics,fewerareawareofanotherimportantaspectofhiscareer.Inadditiontobeing103

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Metadata [hide]

Title	How James Buchanan Came to George Mason Univeristy
Authors/Creators:	Karen I. Vaughn, George Mason University
Year:	2015
Volume:	30
Number:	2
Pages:	103 - 109
Publisher:	The Association of Private Enterprise Education
ISSN:	0890-913X
Document Type:	Articles
Keywords:	James Buchanan, Public Choice Center, George Mason University

Citation:
Vaughn, Karen I. / 2015. "How James Buchanan Came to George Mason Univeristy." The Journal of Private Enterprise, 30(2): 103-109.