Buchanan the Wicked?

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Morbid curiosity tempts me to buy and read Nancy MacLean’s new book Democracy in Chains, but I have resisted so far; for I don’t want to add to the unearned wealth that her book’s notoriety will probably bring her. I know enough from reviews, favorable and unfavorable, and from a published interview with the author herself, to understand that one main theme is the supposed wicked influence of James Buchanan.

I knew Buchanan very well from 1957, when, as Economics Department chairman, he brought me to the University of Virginia. There I was his academic colleague and friend. After he left the University of Virginia (in honorable protest against the University administration’s maltreatment of a colleague), I kept in contact with him and often saw him at professional meetings and occasionally at his homes in Blacksburg and then Fairfax.

Buchanan took economics seriously. He wouldn’t waste time on conspiracies and was no apologist for the wealthy and powerful.

Buchanan took economics seriously. He drew inspiration from his admired professor at Chicago, Frank Knight, and from the writings of the Swedish economist Knut Wicksell. He encouraged the creative thinking of his graduate students. He was a fabulously hard worker whose collected writings fill 20 large volumes and whose Nobel Prize was amply deserved. He wouldn’t waste time on conspiracies and was no apologist for the wealthy and powerful.

I understand Buchanan’s economic and political philosophy quite well, for my own is close to his. He was more of an egalitarian than I am, favoring an extreme estate tax and pondering redistributionary taxation as an arrangement whereby people insure one another against economic distress. While not completely agreeing with John Rawls, who called for social and economic arrangements designed to maximize the welfare of the least-well-off stratum of the population, he admired Rawls and his writings.

As for his thought on limits to democracy, I could expound it at length and enthusiastically. He admired the American Founders, who wisely tried to create a constitutional republic charged with protecting people’s rights even against abusive majorities and government itself. (“Democracy” is a much abused word, sabotaging clear thought by cramming various and even inconsistent good things together under a single label.)

In short, James Buchanan was an entirely different person from the one that Ms. MacLean imagines. She did not bother to know what she was writing about. But historians and journalists have a professional duty to check the truth of what they write.




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Comments

Anastasia Beaverhausen

Oh darn - from the header, I thought the article was going to be a salacious expose' of President Buchanan's secret double life. Sorely disappointed!

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