VIRGINIA SCHOOL AND COSTS THEORY: The Integration of Chicago e LSE by Ihering Guedes Alcoforado
Nesta nota sistematizo as evidências dos vinculos da Escola de Virginia com a Velha Escola de Chicago, em especial com Frank Knight e os custos de oportunidades considerado como um ramo negligenciado da teoria do preço da Escola de Chicato. O objetivo é evidenciar que a especificidade da Escola de Virginia consiste na integração da teoria do preço de Chicago com a teoria dos custos de LSE. O ponto de partida deste micro ensaio é o paragrafo programatico abaixo:
“We argue that the common knowledge that defned the UVA of the 1950s and 1960s uniquely was “an unwavering opportunity cost perspective” (Goetz 1991, p. 7), exemplifed by Buchanan’s (1969) Cost and Choice. Elsewhere, we have argued that at UVA “a neglected branch of Chicago price theory” had emerged under Buchanan and Coase (Boettke and Candela 2014, 2017, 2019). Buchanan had developed a distinctive tradition of Virginia Political Economy by combining Chicago price theory with LSE cost theory. Following Buchanan, we argue that opportunity costs are not constraints, or parameters, to which individuals passively respond. Rather, they are the reciprocals, or variables, to the act of choice itself. That subtle distinction has signifcant implications not only for public policy, but, what is more important, for the proper scale and scope of government when market failures are addressed.” [BOETTKE & CANDELA, 2020]
BIBLIOGRAFIA
Boettke, P. J., & Candela, R. A. (2014). Alchian, Buchanan, and Coase: A neglected branch of Chicago price theory. Man and the Economy: The Journal of The Coase Society, 1(2), 189–208.
BOETTKE, Peter J & CANDELA, Rosolino A. (2017). Price theory as prophylactic against popular fallacies. Journal of Institutional Economics, 13(3), 725–752.
BOETTKE, Peter J & CANDELA, Rosolino A. (2019). James Buchanan and the properly trained economist. In R. E. Wagner (Ed.), James M. Buchanan: A theorist of political economy and social philosophy (pp. 65–83). New York: Palgrave Macmillan.
BOETTKE, Peter J & CANDELA, Rosolino A. (2020). The Austrian school of economics: A view from London. The Review of Austrian Economics, 33(1–2), 69–85
BOETTKE, Peter J & CANDELA, Rosolino A., (2020) Where Chicago meets London: James M. Buchanan, Virginia Political Economy, and cost theory IN Public Choice,
Goetz, C. J. (1991). Uncommon common-sense vs. conventional wisdom: The Virginia School of economics. Fairfax VA: Center for Study of Public Choice.