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Jim Buchanan made the comment at a luncheon speech in Dallas 
on October 17, 1989, before an audience of businessmen, lawyers 
and assorted academics.  I was present and, in fact, introduced 
him.  As I recall, at one point he referred to the last (1988) 
nobel laureate Maurice Allais as a man who hadn't done anything 
in twenty years.  I forget the exact context of the remark, but 
seem to recall that it was made as part of a general assessment 
of the sorry state of the economics profession, especially academic 
theorists. Some insight as to why he might have reached such an 
assessment can be found in his 1985 LIBERTY, MARKET AND STATE essays, esp. "Political
Economy: 1957-82."  I would add that my own
amusement at the remark is based on my own epistemological 
and methodological views. 
 
Sam Bostaph 
 
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