James Buchanan accepted an appointment from the University of Tennessee in 1949, became a professor at the school, and began his academic career. From 1955 to 1956, Buchanan conducted a year-long study in Italy on a Fulbright scholarship. He was influenced by the European fiscal school, which further strengthened his belief that government is not an ideal system. And this firm belief prompted him to find an ideal economic system. While serving as department chair at the Thomas Jefferson Center, he gradually laid the foundation for public choice theory.
The basis for the public choice of economics is a fundamentally simple but controversial idea. The main corollary of this idea is that the government may not be able to correct the problem. In fact, it may make it worse.
Despite its fame, the bold doctrine of public choice was resisted by many academics because it attacked the cherished ideas of two powerful academic groups and newspapers engaged in political reporting. People in the industry also tend to deny the doctrine of fair choice.
As Buchanan said, public choice theory "is the application of economics to political science, and the subjects of public choice are the subjects of political science: the theory of the state, electoral rules, Voter behavior, partisan politics, bureaucracy, etc.”
“The public choice theory has replaced the government’s romantic and illusory concepts with a set of pessimistic concepts. The public choice theory has opened up a new way of thinking, here , the romantic, illusory view of government and the behavior of its rulers has been replaced by a skeptical view of what government can and should do, and this new view is more consistent with the facts we observe. "Consistent." This comes at a time when Buchanan and other public opinion schools are still deeply suspicious of the current Western democratic system and the country and government.
Based on Buchanan's bold theories in economics, after 1969, Buchanan taught at Virginia Polytechnic Institute and founded and led the Public Choice Research Center with Tullock. Buchanan is the center's director and holds the title of Holbert L. Harris University Professor. He has also been an honorary scholar at the American Enterprise Institute and a fellow of the American Academy of Arts and Sciences since 1976.
Until 1983, he was named a member of the American Economic Association with outstanding contributions. From 1983 to 1984, he served as the president of the Northern Economic Association of the United States, and from 1984 to 1986, he served as the president of the M.T. Pillering Association. At this point, Buchanan accordingly created a decision-making theory for the public sector, which is called "new political economics" or "public choice" theory. Became the 18th Nobel Prize winner - the founder of public choice theory.