James Buchanan

James Buchanan

  • Nobel Laureate in Economics, George Mason University

Economist James M. Buchanan is winner of the 1986 Nobel Prize in Economic Science and Professor of economics at George Mason University. He is best known for developing the "public choice theory" of economics, which changed the way economists analyze economic and political decision making. Dr. Buchanan's work opened the door for the examination of how politicians' self-interest and non-economic forces affect government economic policy.

Dr. Buchanan got his start with a BA from Middle Tennessee State College in 1940, followed by a MS from the University of Tennessee in 1941. After graduating from the University of Chicago with a PhD in 1948, he held teaching positions at the University of Virginia, UCLA, and the Virginia Polytechnic Institute.

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