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Quote of the Day from the Library of Economics and Liberty

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Published: 2018-3-12-T6:32:38



2018-3-12 T6:32:38

Monday, March 12, 2018
From: Buchanan: Collected Works, Brennan and Buchanan, The Power to Tax: Analytical Foundations of a Fiscal Constitution, Chapter 1, (par. 9.1.20):

    One condition necessary to ensure a citizen that the government would never impose injury or damage on him, while ensuring all citizens in the same fashion, is the requirement that all governmental decisions be made by a rule of unanimity. Knut Wicksell was the first to recognize the importance of the unanimity rule as an idealized benchmark—since it would be necessary to ensure that all governmental actions represented genuine "improvements" (or at least no damage) for all persons, as measured by the preferences of the individuals themselves.*10 Only through general agreement could the preferences of citizens be revealed; there is no other way of "adding up" the individual evaluations; there is no other means of ensuring that collective action will always be "efficient" in the welfare economists\' usage of this term.

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