Nobel Laureate James Buchanan collects in this volume original and recent hard-to-find essays exploring liberalism and conservatism as distinct ways of looking at and thinking about the realm of human interaction. Classical liberalism is presented here as a coherent political and economic...

The book reprints the main articles from the 1972 volume Explorations in the Theory of Anarchy, and contains a response to each chapter, as well as new comments by Gordon Tullock, James Buchanan, Jeffrey Rogers Hummel and Peter Boettke. The younger economists are notably less pessimistic about...