1 Dr. James M. Buchanan and the Nobel Prize Thomas Li-Ping Tang, Ph.D. MTSU Fellow, Economic Psychology, International Association of Applied Psychology (IAAP) 國際應用心理學協會 經濟心理學，院士

2 Dr. James M. Buchanan and the Nobel Prize The Concert Hall The Nobel Museum The City Hall, Stockholm, Sweden The European Congress of Psychology, July 9-12, 2013, Stockholm, Sweden

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5 Alfred Nobel

6 Nobel Laureates Stockholm Concert Hall 2002 Copyright © The Nobel Foundation 2002 Photo: Hans Mehlin

7 Daniel Kahneman and Vernon L. Smith at the Prize Award Ceremony at Stockholm Concert Hall

8 Daniel Kahneman receives his Prize from His Majesty the King at the Stockholm Concert Hall

9 The 2002 Nobel Laureates assembled for a group photo. From left: John E. Sulston, Daniel Kahneman, Kurt Wüthrich, Raymond Davis Jr., Masatoshi Koshiba, H. Robert Horvitz and Imre Kertész (back row). Sydney Brenner, Koichi Tanaka, Jimmy Carter, Riccardo Giacconi and Vernon L. Smith (front row). John B. Fenn is missing in photo.

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12 Alfred Bernhard Nobel Alfred Bernhard Nobel was born on October 21, 1833, in Stockholm, Sweden.Stockholm, Sweden Died on December 10, 1896, in Sanremo, ItalySanremo, Italy A Swedish chemist, engineer, innovator, and armaments manufacturer. He was the inventor of dynamite. He held 350 patents.

13 Alfred Nobel’s Signature

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20 Dr. James McGill Buchanan Grandson of a Tennessee governor, John Price Buchanan Was born in Rutherford County, Tennessee on October 3, 1919, Died in Blacksburg, Virginia on January 9, 2013

21 Dr. James M. Buchanan Received his BA degree from Middle Tennessee State Teachers College in 1940, (Major: Mathematics, English Literature, and Social Science) Masters degree from University of Tennessee in 1941, and Ph.D. from University of Chicago in 1948.

22 Dr. James M, Buchanan Was Awarded the Alfred Nobel Memorial Prize in Economic Sciences in For his contributions to the theory of political decision-making and public economics. The new political economy or “Public Choice” Book: The Calculus of Consent: Logical Foundations of Constitutional Democracy

23 Dr. James M. Buchanan University of Virginia; Virginia Tech: the Center for Study of Public Choice; George Mason University: Retired in 2007; The University of Tennessee-Knoxville, Florida State University, and UCLA.

24 Dr. James M. Buchanan In 1997, MTSU established the Buchanan Scholarship. He said: “Economics…requires expository writing skills, logical structures of analysis, and a grounding in ultimate reality. And political economy, the branch of moral philosophy from which economics springs, requires philosophical coherence. I came away from Middle Tennessee with all of these”

25 Dr. James M. Buchanan Seminar in Honor of James M. Buchanan On November 22, 1991, He said: “When I was a student here, I did not study hard enough”. He once wrote: “If Jim Buchanan can get a Nobel Prize, anyone can.” Nobel Prize Medal on display at Buchanan Reading Room, James E. Walker Library (4 th fl.)

26 How to Gain Knowledge and Wisdom? 1.Study and 2.Ask Questions 學問 What is the secret to your success?

27 His Exclusive Hand-Written Secret (November 21, 1991)

28 Secret to His Success Hard work, a sense of self-confidence, a willingness to challenge all authority, scientific or otherwise.

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47 Key Points Identify the talents in YOU, Study & Ask Questions, Simplify, Focus, 168, and Achieve your Goals in Life.