According to Wikipedia, James McGill Buchanan Jr. was an American economist known for his work on public choice theory , for which he received the Nobel Memorial Prize in Economic Sciences in 1986. Buchanan's work initiated research on how politicians' and bureaucrats' self-interest, utility maximization, and other non-wealth-maximizing considerations affect their decision-making. He was a member of the Board of Advisors of The Independent Institute as well as of the Institute of Economic Affairs, a member of the Mont Pelerin Society, a Distinguished Senior Fellow of the Cato Institute, and professor at George Mason University.
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James M. Buchanan is most known for their academic work in the field of economics. They are also known for their academic work in the fields of
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