Economics as moral exchange: James Buchanan meets Martin Buber

In this article, we examine the methodological writings of James M. Buchanan and relate them to those of the moral philosopher, Martin Buber. We analyze Buchanan's views, both explicit and implicit in his writings, on the morality of the exchange relationship between individuals. We imagine a hypothetical meeting between Buchanan and Buber and conclude that Buchanan would have agreed with Buber's dialogical philosophy of human interaction as a foundation for his catallactic point of view.