Write a short biography on James McGill Buchanan, an analysis of his Essay

Write a of a sudden biography on James McGill Buchanan, an analysis of his economic theories, and his contributions to the welfare of society - Essay ExampleHe was also, in 1963, at the senior most position at the Southern Economic Association abruptly after, in 1971, at the American Economic Association he served as vice president, and then for both years, 1983 and 1984, in a similar position at the Western Economic Association (James M. Buchanan).Buchanan coauthored The dragon of Consent with Gordon Tullock as one of the products of thinking cultivated by reading a German member by Knut Wicksell, a Swedish economist(DiLorenzo 180). Wicksell was of the idea that the benefits taxpayers received should be directly linked to the taxes they pay. This implied that taxes and government spending would be agreed upon and validated, as opposed to the conventional view of the 1940s and even the current view.The daybook The Calculus of Consent revised Wicksells idea, and referred to it as workable unanimity, as they thought it impractical. This in concert with The Economics of Democracy, a book by Anthony Down, gave birth to the field of common choice. Buchanan and Tullock even went on to initiate an academic journal- Public Choice. At this time, he raised dissimilarity between two levels of public choice the first being during the making of the constitution and the second being after the constitution has been implemented. He has attempted to convert his fellow economists to this line of thinking, where they should focus more on the first level sooner than on the second level as mere political players. To push this ideology farther, he produce a journal- Constitutional Economics (James M. Buchanan).Buchanan also believed that welfare economics is skewed as cost are subjective. He pointed this out in an unusually ardent economics book- Costs and Choice. This was the book that he considered most essential yet to the Nobel Committee it was The Calculus of Consent. In the book, Buchanans aim