The Political Economist: Between Truth-seeking and Political Engagement
Résumé
In this paper, I discuss the extent to which James Buchanan, although a founding member of the so-called "Virginia school of political economy" should be considered
a Virginia political economist (VPE). In particular,
I wish to debate whether Buchanan understood the role of the political economist
as a truth-seeker only, one that never imposes his own beliefs and one that
simply starts his analysis by the state of accepted conventions. This view of VPE
cannot, I argue, describe fully what Buchanan envisioned for the economist. In
particular, throughout the 1950s, Buchanan developed a view of the role of the
political economist that is deeply infused with political engagement and responsibility.
In Section 1, I address David Levy and Sandra Peart’s reconstruction of VPE, complement
it with other sources to show the extent to which Buchanan’s and others’
writings are compatible with such view. In Section 2, I expose a number of facts
and events that do not square with Levy and Peart’s reconstruction, all having to
do with Buchanan’s political engagement. In Section 3, I offer a series of counter
arguments that show that Buchanan was actually very concerned, especially
in the 1950s, about the links between politics and political economy. The last
section offers concluding remarks addressing the historiographical challenges
raised by Levy and Peart’s reconstruction in the light of current debates regarding
Buchanan’s work – and, more generally, VPE.