Radical Markets: Uprooting Capitalism and Democracy for a Just Society

By Eric A Posner, Eric Posner, E Glen Weyl, E Weyl

Revolutionary ideas on how to use markets to bring about fairness and prosperity for all

Many blame today's economic inequality, stagnation, and political instability on the free market. The solution is to rein in the market, right? Radical Markets turns this thinking--and pretty much all conventional thinking about markets, both for and against--on its head. The book reveals bold new ways to organize markets for the good of everyone. It shows how the emancipatory force of genuinely open, free, and competitive markets can reawaken the dormant nineteenth-century spirit of liberal reform and lead to greater equality, prosperity, and cooperation.

Eric Posner and Glen Weyl demonstrate why private property is inherently monopolistic, and how we would all be better off if private ownership were converted into a public auction for public benefit. They show how the principle of one person, one vote inhibits democracy, suggesting instead an ingenious way for voters to effectively influence the issues that matter most to them. They argue that every citizen of a host country should benefit from immigration--not just migrants and their capitalist employers. They propose leveraging antitrust laws to liberate markets from the grip of institutional investors and creating a data labor movement to force digital monopolies to compensate people for their electronic data.

Only by radically expanding the scope of markets can we reduce inequality, restore robust economic growth, and resolve political conflicts. But to do that, we must replace our most sacred institutions with truly free and open competition--Radical Markets shows how.



    REVIEW QUOTES
"I have always been motivated to find ways to unite the power of technology and markets with the goal of creating a more egalitarian society, and the authors of this book offer an exploration of these apparently contradictory strands."--Satya Nadella, Chief Executive Officer, Microsoft
It will pay the readers . . . great intellectual returns to invest significant time in studying this book very carefully. It is ambitious and bold, and I think it should excite the imagination and motivate careful scholarship and analytical rigor among both critics and those who want to pursue the line of argument laid out.---Peter Boettke, Coordination Problem
Both a savage critique of 'techno-feudalism' and an idealistic appeal to share the fruits of our collective intelligence more fairly.---John Thornhill, Financial Times



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About the Hardcover

Publisher Princeton University Press
Publish date 05/15/2018
Pages 368
ISBN-13 9780691177502
ISBN-10 0691177503
Language English

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