Many people still believe that politicians and government workers are guided by the "public good," and not their own self-interests, preferences and well-being. But one of Buchanan's most powerful contributions is his insight that when people make political decisions--as politicians, government workers, voters and lobbyists--they have the same self-interests and individual preferences as when they make private decisions as parents, friends, workers, consumers and business owners. Buchanan's work into the self-interest and individual incentives affecting the political process is the foundation for an important field of economics known as Public Choice, which is devoted to the study of politics through an economic lens. Watch this vide to learn more, and visit www.essentialjamesbuchanan.org.
23 сен 2024
