Honorary Unsubscribe

Randy Cassingham’s Honorary Unsubscribe Recognizes the Unknown, the Forgotten and the Often Obscure People who Had an Impact on Our Lives.
These are the people you will wish you had known.

Political realist

James M. Buchanan

An economist, Buchanan was a leading proponent of a theory of economic behavior that now seems self-evident: “public choice theory”. He proposed that politicians and bureaucrats may not act in the public interest, but rather have their own interests in mind, such as enhancing their own power, becoming rich, or getting re-elected. Such was evident for hundreds of years, but “modern” politics was thought to be exempt from such self-interest. Buchanan showed that was not so, and analysis proved him correct — so much so that political self-dealing behavior could even be predicted. Voting for tax cuts before elections, for instance, “buys” votes even if it harms the economy long-term. And because the world has gotten so complex, that kind of behavior has filtered down to bureaucrats who control the more mundane aspects of rules and regulations, protecting their own power bases and budgets. With that understanding, Buchanan argued for a smaller government, which would limit political power, since otherwise there would be “a permanent disconnect” between tax collections and government spending, leading to ever-larger deficits. That made Buchanan popular with conservatives, and the more so because he was right — and Buchanan was awarded the Nobel Prize in Economics in 1986 for his insights. The current system naturally leads to “institutionalizing irresponsibility in the federal government, the largest and most central institution in our society,” says George Mason University Economics Prof. Tyler Cowen. “As we fail to make progress on entitlement reform with each passing year, Professor Buchanan’s essentially moral critique of deficit spending looks more prophetic.” Dr. Buchanan never retired, writing papers and giving lectures until he died, on January 9, at 93.

From This is True for 13 January 2013

Honorary Unsubscribe Books

HU BooksThe Early Writeups from This is True's popular Honorary Unsubscribe feature are now available for your Kindle (or Kindle software for your smartphone, tablet, or computer) as low-cost ebooks.

See details on Volume 1 (covering 1998 through 2000), Volume 2 (2001 through 2003), Volume 3 (2004 through 2006), and Volume 4 (2007 through 2009).

The honorees truly are the people you wish you had known.

About the HUs
About This is True

Subscribe Free
to This is True
Your E-mail:

Oldest: Memory savior Miep Gies

Newest: Jazz guitarist Mundell Lowe

Complete Name List

Prev: AMAZING California Lover Huell Howser

Next: Bundles for Britain founder Lady Malcolm Douglas-Hamilton

Complete Name List

Copyright 1998-2017 ThisIsTrue.Inc, all rights reserved. May not be copied or archived without express, prior, written permission. "This is True" is a registered trademark of ThisIsTrue.Inc, Ridgway Colorado.