Oct 30, 2011

The classic economics journal article of the day: An Economic Theory of Clubs

This is James Buchanan in 1965 in Economica  in his article "An Economic Theory of Clubs." I was thinking this morning about James Buchanan, I was fortunate to take a workshop on political economy and public choice with him at GMU. It was fascinating. What I admire the most however is his just out-of-this-world work ethic. That dedication to his work and to economic science produced gems like his theory of clubs. 

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