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Radical Markets


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Table of Contents

Acknowledgments ix Preface: The Auction Will Set You Free xiii Introduction: The Crisis of the Liberal Order 1 1 Property Is Monopoly 30 2 Radical Democracy 80 3 Uniting the World's Workers 127 4 Dismembering the Octopus 168 5 Data as Labor 205 Conclusion: Going to the Root 250 Epilogue: After Markets? 277 Notes 295 Index 319

About the Author

Eric A. Posner is the Kirkland and Ellis Distinguished Service Professor at the University of Chicago Law School. His many books include The Twilight of Human Rights Law and Climate Change Justice (Princeton). He lives in Chicago. E. Glen Weyl is principal researcher at Microsoft, founder and chairman of RadicalxChange, and visiting research scholar at Princeton University's Woodrow Wilson School of Public and International Affairs. He lives in New Jersey.


"What I love is just some new ideas, because the existing ideas to solve the injustices and inequalities aren't working! A must-read."---Carol Massar, Bloomberg Radio
"I highly recommend this book! Replacing markets by auctions (sort of). Whether you agree or not, it shows how much liberalism is able to renew itself."---Gaspard Koenig, Generation Libre
"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
"This is free market thinking but not as we know it."---Diane Coyle, Prospect
"[A] bold book."---Michael Sandel, New Statesman
"Read this difficult and provocative book. It made my head hurt, and then spin. In a world where our current economic and political models are worth defending but are straining, this can only be a good thing."---Paschal Donohoe, Irish Times
"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
"An arresting if eccentric manifesto for rebooting liberalism. . . . Radical Markets is refreshing and welcome in its willingness to question received wisdom." * The Economist *
"This system has enormous potential - simple, fair, progressive taxes and a more dynamic economy. It would be much easier to develop new infrastructure, build new homes, buy your neighbour's garden, and pour concrete all over twee villages to build monorails or airport runways."---Tim Harford, Financial Times
"A very thought-provoking book is a bizarre fusion of ideas drawn from the classical liberal . . . . and socialist tradition(s). . . . It contains ideas . . . that really do make you think. It is a really fun book to read and of you are someone who actually likes having your suppositions and beliefs challenged, take a look at it."---Reihan Salam, National Review's The Editors podcast
"Glen Weyl, coauthor of Radical Markets, is tackling the core issues: What does human dignity mean in a highly automated future? How can we regain agency over the data we produce? If these don't sound like economic questions, then get ready to encounter the future of economics. We can't just complain about how tech is transforming our world; we need to invent the transformation."---Jaron Lanier, Wired
"A provocative new book." * The Economist *
"A law professor and an economist argue that the way out of liberalism's impasse is to expand the role of markets, not to subdue them. . . . Together they point to a possible response to the challenges of populism and protectionism." * The Economist *
"E. Glen Weyl & Eric Posner: One of Bloomberg Businessweek's "Bloomberg 50" Icons of 2018"
"One of The Economist's Best Business and Economics Books of 2018"
Radical Markets . . .
could be best described as an interesting new way of looking at the subject that is sometimes called "political economy" - tackling the big questions of how markets and politics and society intersect. . . . I highly recommend Radical Markets . . . to anyone interested in these kinds of issues, and look forward to seeing the discussion that the book generates."---Vitalik Buterin,
"Extremely thought provoking and clearly brilliant . . . Radical Markets certainly made me think about property, information, power. Well worth reading."
---Diane Coyle, The Enlightened Economist
"Doesn't anybody have anything new to offer? . . . . [Y]es: . . . unleash the awesome power of markets . . . to uplift the poor . . . it just might be what the world needs now. . . . [Posner and Weyl are] smart and iconoclastic, and their book bursts with ideas like kernels of corn on a hot stove."---Peter Coy, Bloomberg Businessweek
Radical Markets
is worth reading both for its genuinely innovative suggestions and its well-researched accounts of the development of economic ideas."---David V. Axelsen, Economics and Philosophy

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