James McGill Buchanan Jr. was an American economist known for his work on public choice theory originally outlined in his most famous work, The Calculus of Consent, co-authored with Gordon Tullock in 1962. He continued to develop the theory, eventually receiving the Nobel Memorial Prize in Economic Sciences in 1986. The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1986, announced October 16, 1986. James M. Buchanan Jr., “for his development of the contractual and constitutional bases for the theory of economic and political decision-making”. James M. Buchanan Jr.: born 1919, Murfreesboro, TN, USA. Wiki link Data: the Nobel Foundation (CC0).