Economist James Buchanan, the grandson of a former Tennessee governor and winner of a Nobel Prize in economics for his thinking on political decision-making, has died at age 93.
Buchanan was born in Murfreesboro and earned degrees from Middle Tennessee State University and the University of Tennessee before joining the U.S. Navy during World War II. He later taught at UT and elsewhere and launched the Thomas Jefferson Center for Studies in Political Economy at the University of Virginia.
Most recently, Buchanan was distinguished professor emeritus at George Mason University.
Bloomberg has more on the life of the 1986 Nobel winner, who summed up his public-choice theories to "politics without romance."