Buchananomics: The Economic Policies of James Buchanan

7 Pages Posted: 8 Jul 2011  

Mark Mraz

Slippery Rock University

Date Written: July 7, 2011

Abstract

When James Buchanan took office the United States was sound financially. The treasury was running in the black as revenues of the federal government exceeded expenditures. Buchanan recommended that these monies be spent on great national projects such as increased naval construction to protect our vast tonnage afloat which was greater than any other nation or extinguishing the national debt. Being a die-hard Jacksonian on economic issues, he believed that revenues should match and not exceed expenditures. When the panic of 1859 hit, Buchanan utilized a blend of monetary and fiscal policies to remedy the situation.

Suggested Citation

Mraz, Mark, Buchananomics: The Economic Policies of James Buchanan (July 7, 2011). Available at SSRN: https://ssrn.com/abstract=1880967 or http://dx.doi.org/10.2139/ssrn.1880967

Mark Mraz (Contact Author)

Slippery Rock University ( email )

College of Education
McKay Education Building
Slippery Rock, PA 16057
United States
724-738-2288 (Phone)
724-738-2779 (Fax)

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