James M. Buchanan, Nobel Prize winner in Economic Science, 1986, is currently Advisory General Director of the Center for Study of Public Choice and Harris University Professor at George Mason University. Professor Buchanan received his doctorate from the University of Chicago (1948) and subsequently taught at the University of Tennessee, Florida State University, University of Virginia, UCLA, and Virginia Polytechnic Institute and State University where he established the Center for Study of Public Choice. He moved from the Center to George Mason University in 1983. Holder of four honorary doctoral degrees from Universities worldwide, and Distinguished Fellow of the American Economic Association, Professor Buchanan is author of over thirteen books and hundreds of articles in the areas of public finance, public choice, constitutional economics and economic philosophy. He is best known for such works asFiscal Theory and Political Economy, The Calculus of Consent, The Limits of Liberty, Democracy in Deficit, The Power to Tax, and The Reason of Rules.