Nobel laureate James M. Buchanan (1919-2013) was recorded in 2001 in an extended video now available to the public. Universally respected as one of the founders of the economics of public choice, he is the author of numerous books and hundreds of articles in the areas of public finance, public choice, constitutional economics, and economic philosophy. Buchanan devoted himself to the study of the contractual and constitutional basis for the theory of economic and political decision-making.

In Part I of the interview, Buchanan discusses the theory of public choice, the exchange theory of economics, and constitutional thought.

In Part II, the conversation turns to topics such as the work ethic, the logic of free markets, subjectivism, anarchy, federalism, the Nobel prize, and Buchanan’s personal experiences and philosophy.