James M. Buchanan

James McGill Buchanan Jr. was an American economist known for his work on public choice theory originally outlined in his most famous work, The Calculus of Consent, co-authored with Gordon Tullock in 1962. He continued to develop the theory, eventually receiving 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 (MPS) and MPS president from 1984 to 1986, a Distinguished Senior Fellow of the Cato Institute, and professor at George Mason University.

3 October 1919

Born on the same birth day (3 October): A. Y. Jackson • Al Sharpton • Andreas Isaksson • Bob Riley • Charles Wood, 2nd Earl of Halifax • Claudio Pizarro • Darrin Fletcher • Eirik Hegdal • George Wein • Gerardo P. Cabochan • Jake Shears • James Jackson Putnam • Jonna Lee (singer) • Keb' Mo' • Michael Hordern • Nicolae Șerban Tanașoca • Pierre Bonnard • Seth Jones • Tessa Thompson

Born in the same month (October 1919): Anita O'Day • Daphne Oxenford • Doris Lessing • Doris Miller • Edgar Laprade • Frank Bourgholtzer • Frank Piasecki • Georges Duby • Hans Klenk • Jim Wallwork • Kiichi Miyazawa • Majrooh Sultanpuri • Malcolm Ross (balloonist) • Mohammad Reza Pahlavi • Pierre Trudeau • Ric Nordman • Walt Hansgen • Willard Estey • Zelman Cowen • Zhao Ziyang