12:39pm

Wed January 9, 2013
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Tennessee Nobel Laureate Dies

Nobel economics laureate and MTSU alumnus Dr. James Buchanan speaks to MTSU graduates at the May 2000 commencement ceremony. Buchanan, a Rutherford County native, died Wednesday in Virginia. He was 93.
Nobel economics laureate and MTSU alumnus Dr. James Buchanan speaks to MTSU graduates at the May 2000 commencement ceremony. Buchanan, a Rutherford County native, died Wednesday in Virginia. He was 93.
Credit MTSU

MURFREESBORO, Tenn. (WMOT)  --  Nobel Prize-winning economist and mid-state native James M. Buchanan died Wednesday morning at his home in Blacksburg, Va.

The grandson of a Tennessee governor, Buchanan was born in Rutherford County’s Gum community and is a 1940 graduate of Middle Tennessee State University.

Dr. Buchanan won the 1986 Nobel Memorial Prize for his work in the field of Public Choice, which applies economic analysis to the study of public decision making.

Middle Tennessee State President Sidney A. McPhee calls Buchanan the university’s most celebrated graduate.

“What I’ve been most pleased with is - over the years - his continued involvement and commitment to making this university the best that it can be.”

MTSU established a scholarship fund in Dr. Buchanan’s name in 1997 and a fellowship in his honor in 2006.

Family members say Dr. Buchanan was 93 at his death. Funeral arrangements have not yet been announced.