B Law 311 Notes (2)
Constitutional financial aspects is a area of financial aspects and constitutionalism which explains and examines the specific interrelationships between constitutional problems and the framework and performing of the economic system. The term “constitutional economics” was used by United states economist – Wayne M. Buchanan – as a name for a new educational sub-discipline. Buchanan obtained in 1986 the Nobel Award in Economic Sciences for his “development of the contract and constitutional angles for the concept of financial and governmental decision-making.” Buchanan denies “any natural perception of the condition as excellent in knowledge, to the those who are its associates.” This philosophical position is, in fact, the very topic of constitutional financial aspects.
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