This year’s Oct 3rd will mark the 100th birth anniversary of a man I intensely admire, just as Oct 2nd marks the 150th birth anniversary of a man I equally intensely detest, Mohandas Karamchand “Mahatma” Gandhi. Rarely do two humans occupy such diametrically opposite ends of the spectrum of human thought, action, morality and ethics.
James McGill Buchanan was born in Tennessee on Oct 3rd 1919 to a family of high social status (his grandfather was the governor of Tennessee in the 1890s) but of modest means. He received his Ph.D. in economics from the University of Chicago in 1948. He was the architect of “public choice school,” and for his contributions to that academic enterprise he was awarded the Nobel Memorial Prize economics in 1986. Continue reading