The Return to Increasing Returns.

BUCHANAN, James M. and Yong J. Yoon.

$450.00

Item Number: 33048

Ann Arbor: University of Michigan Press, 1994.

First edition. Octavo, original cloth. Inscribed by James Buchanan on the title page, “To Betty, another to add to your list on the shelves. J. Fairfax April 94.” The recipient, Betty H. Tillman, was his assistant for 46 years and was the second person Buchanan phoned on October 16, 1986 (after his wife, Ann) when he learned he had been awarded the Nobel Prize in Economics (see Buchanan, ‘Notes on Nobelity,’ in Better than Plowing: And Other Personal Essays, University of Chicago Press 1992). Fine in a fine dust jacket.

James M. Buchanan was an American economist known for his work on public choice theory (included in his most famous work The Calculus of Consent), for which he received the Nobel Memorial Prize 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, a member (and for a time the President) of the Mont Pelerin Society, a Distinguished Senior Fellow of the Cato Institute, and professor at George Mason University.