James M. Buchanan on State Function and Optimal Government Size

„You have to have a government to provide you with legal order, with stability, enforcement of property rights, enforcement of contracts, definition of rules and regulations - the rules of the game, so to speak - and to provide certain shared goods and services, public services. Several people have tried to estimate this and they come out with figures like government spending at 15% of GDP. In the modern world it has gone to 40% or above. So we are way beyond the optimal, and that is easier to say than what the optimum is.“

James M. BuchananJames M. Buchanan explains the state's role in legal order and public services, discussing limits of government spending as GDP share.
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James M. Buchanan was an American economist and Nobel laureate, known for his work on public choice theory.

James M. Buchanan explains the necessity of a state to ensure legal order and public provision, while discussing the possible excess of the optimal government size.


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James M. Buchanan quote about government functions, public services, and optimal government size

James M. Buchanan (1919–2013) was an American economist best known for developing public choice theory, analyzing political behavior using economic principles. He was awarded the Nobel Prize in Economic Sciences in 1986.

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