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The constitutional economics was considerably developed by James Buchanan, who was awarded the Nobel Prize in economics in 1986 for applying constitutional and contract thinking to economic theory and the political process. He is considered to be the founding father of constitutional economics. Special emphasis in the Buchanan Nobel lecture is given to the problem of achieving balance between the economic possibilities of adjacent generations, which, even living contemporaneously with each other, still do not have equal access to the process of decision-making on financial issues, and thus influencing other generations either directly or indirectly.
Russian schhool of constitutional economics created new approach to development of this field of academic research and also added educational courses in constitutional economics.
For last several years 3 edition of textbook for universities and 2 for schools were published by the Publishing Youse Justiceinform.