Niranjan Rajadhyaksha quotes:
“Individuals choose, and as they do so, identifiable economic interest is one of the ‘goods’ that they value positively, whether behaviour takes place in markets or in politics. But markets are institutions of exchange; persons enter markets to exchange one thing for another,” said James M. Buchanan in a speech entitled The Constitution of Economic Policy that he gave on winning the Nobel Prize in economics in 1986.
“… The extension of this exchange conceptualization to politics counters the classical prejudice that persons participate in politics through some common search for the good, the true, and the beautiful, with these ideals being defined independently of the values of the participants as these might or might not be expressed by behaviour. Politics, in this vision of political philosophy, is instrumental to the furtherance of these larger goals,” Buchanan said.
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