E. Glen Weyl

RadicalxChange

(RxC) is a global movement for next-generation political economies

Founded by economist Glen Weyl in 2018, the RadicalxChange Foundation is a 501(c)(3) nonprofit dedicated to advancing the RxC movement, to building community, and to education about democratic innovation.

RxC connects people from all walks of life – ranging from social scientists and technologists to artists and activists. The movement is ever-evolving and we always welcome new people and ideas to make our social world more diverse, equal, and free.

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Why Radical Markets?

The ideas we present in the book would radically change many features of our society. You might naturally ask why we believe such fundamental change is necessary and whether it isn’t more dangerous to take a step into the unknown than to maintain our institutions that have generated relative stability.

At one level we agree, and all of our ideas have narrow, cautious initial applications. However, we believe that wealthy countries are at a moment of fundamental crisis that threatens the legitimacy and stability of our values and institutions. Unless we can inspire a new generation with a productive vision for the future, we believe the coming years hold great peril for wealthy societies.

The crisis we perceived has three components. First, inequality within wealthy countries, and in particular the US and UK, has been growing dramatically with especially the share of national income going to workers falling.

“Neo-liberals” like Ronald Reagan and Margaret Thatcher promised that in exchange for such inequality their “trickle down” economics would stimulate growth and create jobs. Yet, second, at the same time economic and productivity growth rates have fallen dramatically and employment has declined.

This combination of inequality and stagnation, which we call “stagnequality”, has largely discredited existing economic policy in the eyes of much of the public. At the same time, democratic politics has struggled to respond to conflicts between minorities and majorities within countries, as well as those between international cooperation and national sovereignty, leading to increasingly polarized politics. Responding to both these crises of legitimacy, dangerous and incompetent populist leaders and policies have become prominent and threaten hard-won social progress. Together we call these events the “crisis of the liberal order”.

To respond to this crisis, we look back to a nineteenth-century tradition, led by thinkers like Adam Smith, Jeremy Bentham, John Stuart Mill, Henry George, Léon Walras and Beatrice Webb. These self-styled “Radicals” inspired political movements from the American Progressive Movement to Sun Yat-Sen’s Nationalist revolution in China with their ideas that saw free, open and competitive markets as a force that could emancipate societies from feudal prejudices and privileges. While many of their ideas were neglected during the conflicts of the Cold War, they were further developed in the ivory tower by thinkers like Nobel Laureate William Vickrey and used to design auctions for advertising slots on webpages and the radio spectrum. In Radical Markets, we revive this Radical tradition and show how it can address the crisis of the liberal order.

Property is Monopoly

Imagine a world in which all major private wealth (every factory, patent or plot of land) is constantly for sale at a fair price and where most of the value of this property is paid out equally to all citizens as a social dividend. While one might be tempted to believe the wealthy would dominate such a hyper-market world, in fact most private wealth would become social wealth and would be shared equally by all. With most value of assets accruing to the public, every asset would become cheaper to (partially) own, democratizing the control of assets and offering everyone new opportunities to start businesses or households. At the same time, because there would be a price on every asset, large scale projects, like high speed trains, would become far easier to develop as holdouts could no longer block the right of way.

We propose a new property system, called the Common Ownership Self-Assessed Tax (COST), that would make such a world come true. Every citizen and especially corporation would self-assess the value of assets they possess, pay a roughly 7% tax on these values and be required to sell the assets to anyone willing to purchase them at this self-assessed price. This tax would raise enough revenue to eliminate other taxes on capital (such as on inheritance, corporations, capital gains, property and so forth), significantly reduce income taxes and pay down much of public debt, while at the same time funding a large social dividend (of roughly $24,000 for a family of four in the United States) or funding critical public infrastructure.

At the same time, unlike most taxes, it would actually grow the economy by 5%. Beyond these economic benefits, a COST would create a healthier relationship to property, teaching us to detach from our material possessions and stop trying to exploit one another in commercial transactions, instead seeking to increase the value of common wealth and strengthening the bonds of community. And while such a dramatic change may seem like a speculative pipedream, it is a natural way, even in the near-term, to govern public resources like the radio spectrum.

Radical Democracy

Imagine a world where political minorities could protect their most cherished interests at the ballot box without relying on whims of judges and compromises on sensitive issue could be hammered out transparently in the public square. If citizens were able to trade influence on issues they don’t care or know about for influence on the issues most important to them, the voting process itself could help create reasoned compromises among citizens. Minorities could overwhelmingly vote down populist politicians who threatened to oppress them, while the majority of citizens could choose which of the remaining candidates represent the best direction for the country. The public sector, and organizations of all sorts governed by voting (from corporations to housing co-ops), could make decisions efficient in the best total interests of their stakeholders.

We propose a new system of Quadratic Voting (QV) that would create such a truly radical democracy. Every citizen would receive an equal annual allotment of “voice credits” that they could use to vote in a range of collective decisions from elections to the school board to referenda on membership in international organizations. Every citizen could choose how many votes, up or down, she wants on any given issue or candidate, as long as she has enough vote credits to afford it. Crucially, the costs of votes would be quadratic in the number of votes acquired. For reasons we explain in chapter 2 of our book, this quadratic cost is the only one under which citizens have in theory an incentive to and in experiments in practice do vote in proportion to how important issues are to them.

It is thus the only rule that leads to social decisions that produce the greatest good for the greatest number. By making collective institutions that are thus truly responsive to the general interest and not just the prejudices of the majority or special interets, QV could restore faith in and thus a greater role for public institutions. And it is already being used for governance and to elicit opinions in polling using software created by our start-up, QDecide.

Uniting the World’s Workers

Imagine a world where wealthy countries hosted one migrant for every native-born citizen and where migration has overwhelming popular support. Native-born citizens sponsor visas for migrants, who in return share half of the increase in earnings they achieve by coming to wealthy countries with their hosts. A typical family of four can earn $15,000 by hosting migrant workers and millions of migrants increase their earnings by 5-10 times by working in wealthy countries, sending much of their earnings back to their impoverished families who are finally able to afford nutrition and sanitation. Citizens select migrants to sponsor with whom they often have a personal connection, of heritage, religion, language or interests. Local communities regulate how many migrants their citizens can host and many citizens in search of opportunity move to cities that are open to migration.

We propose a Visas between Individuals Program (VIP) that would tie together the interests of the working classes of rich and poor countries through sponsorship of visas and sharing of the gains from migration. Because every citizen would benefit from migration, rather than just the wealthy or those in cosmopolitan cities, migration would move from being one of the most divisive issues in wealthy countries to a widely popular source of growing middle-class income.

At the same time, the VIP would do more to reduce inequalities across countries, in both material income and political influence, than all development of poor countries for the last thirty years. And while migrants would be much poorer than their native hosts and would likely be somewhat patronized by him, the VIP would begin to break down the barriers of nationalism and bigotry that harden the hearts of the wealthy countries against the plight of their sisters and brothers in poor countries. Experiments with a similar system in New Zealand have already met with great success and, as we suggest in our chapter 3, could be tried in pioneering model cities in wealthy countries.

Dismembering the Octopus

Imagine that, just by changing the structure of corporate ownership and antitrust regulations, wages started growing again, prices for all sorts of goods fell and decent-paying jobs became available to able-bodied worker. The last forty years have seen a dramatic stagnation of living standards for the working classes of in wealthy countries. Yet even as economies have stagnated, stock markets have soared as corporations and the wealthy take an ever-larger share of the economic pie. The fundamental problem is that the antitrust laws that keep competition vibrant, channeling corporate greed towards the public good, have been unenforced. This has allowed a small group of powerful investors to coordinate much of the economy to serve the interests of the wealthy, while corporate consolidation has allowed all companies to hold down worker wages by creating artificial unemployment.

We propose simple, practical and yet radical solutions that would disrupt few of the benefits of corporate consolidation while eliminating the power of the wealthy to rig the economy in their favor. The institutional investors that control most public corporations would have to choose one company to invest in within each industry they invest, so they could not hold (for example) both United Airlines and American Airlines. This would force them to promote competition between the companies they hold and those held by other institutional investors. Antitrust prohibitions against mergers raising competition would be applied equally to cases where the merger gives the companies power to lower workers’ wages, where these prohibitions are currently applied only to mergers harming consumers from increased prices. Tech giants would no longer be able to buy up nascent disruptive rivals and would thus face fiercer competition. And, as we show in our chapter 4, all of this is possible without further legislation: all that is needed is for government antitrust enforcers or harmed groups of citizens to band together to defend their interests in court.

Data as Labor

Imagine a world in which your personal data, currently hoovered up by tech companies and repurposed for their profit, were honored as your dignified work and compensated as such. Rather than the growing prowess of digital systems being seen as “Artificial Intelligence” (AI) that would replace our jobs, it would be seen as a new source of well-paying jobs and income supplements. Rather than being treated like passive consumers of the entertainments dished out to us by digital platforms, we would be honored as the suppliers of the data that make the digital economy work. Rather than all the value of the digital economy flowing to wealthy nerds in cosmopolitan cities, the fruits of digital technology would be shared broadly among citizens.

In our chapter 5, we show that by treating Data as Labor (DaL) not only can we build a fairer and more equal society, but we can also spur the development of technology and economic growth. At present, because data suppliers are not properly rewarded for their digital contributions, they lack the incentive or freedom to contribute the high-quality data that would most empower technology or develop their personal capacities to maximize their earnings and contributions to the digital economy. The current wasteful equilibrium results from the dominance of companies like Facebook and Google that thrive off free user data.

But other companies, like Amazon, Apple and especially Microsoft, have a different business model and could benefit from competing with Facebook and Google to offer users a fairer deal. Awareness among users of their value would already make a large difference, as users might form data labor unions to demand fair compensation. And users are increasingly being empowered by new definitions of property rights over data in the European Union.

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E. (Eric) Glen Weyl is a Principal Researcher at Microsoft Research and a Visiting Senior Research Scholar at Yale’s Law School and Economics Department. He was Valedictorian of his undergraduate class at Princeton in 2007 and received his PhD in economics from Princeton a year later.

He was a Junior Fellow at the Harvard Society of Fellows, an Assistant Professor of Economics at the University of Chicago and is an Alfred P. Sloan Research Fellow 2014-2019. He aims, in the spirit of nineteenth century political economy, to interweave insights from a variety of now disjoint fields (such as economics, law, computer science, and philosophy) to propose practical ideas for radically expanding the scope of market exchange. He pursues these ideas both theoretically and practically, writing academic papers, writing for the public, engaging with policymakers and launching commercial ventures.

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Eric Posner is Kirkland and Ellis Distinguished Service Professor of Law, University of Chicago. His books include The Twilight of Human Rights Law (Oxford, 2014); Economic Foundations of International Law (with Alan Sykes) (Harvard, 2013); Contract Law and Theory (Aspen, 2011); The Executive Unbound: After the Madisonian Republic (with Adrian Vermeule) (Oxford, 2011); Climate Change Justice (with David Weisbach) (Princeton, 2010); The Perils of Global Legalism (Chicago, 2009); Terror in the Balance: Security, Liberty and the Courts (with Adrian Vermeule) (Oxford, 2007); New Foundations of Cost-Benefit Analysis (with Matthew Adler) (Harvard, 2006); 

The Limits of International Law (with Jack Goldsmith) (Oxford, 2005); Law and Social Norms (Harvard, 2000); Chicago Lectures in Law and Economics (editor) (Foundation, 2000); Cost-Benefit Analysis: Legal, Economic, and Philosophical Perspectives (editor, with Matthew Adler) (University of Chicago, 2001). He is a fellow of the American Academy of Arts and Sciences, and a member of the American Law Institute.

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Reviews

Andy Haldane
Andy Haldane
Chief Economist, Bank of England
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" In 1903, Elizabeth Magie patented her Landlord’s Game, a property-based board game. It was created with two sets of rules: a monopolist set in which, when wealth was created, the winner took all; and an anti-monopolist set in which all wealth created was shared across society. It is revealing that only the former set of rules took off, giving birth to the multi-million pound best-selling game known as Monopoly. In many respects, the real world has imitated this choice in its own set of societal rules.

This fascinating new book by Glen Weyl and Eric Posner, Radical Markets, begins to sketch a vision of how society might look if it adopted Magie’s second set of societal rules. Unlike in a board game played with monopoly money, the stakes in this societal game could scarcely be higher and the importance of this book could scarcely be greater."
Kenneth S. Rogoff
Kenneth S. Rogoff
author of The Curse of Cash
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" Perhaps the most ambitious attempt to rethink democracy and markets since Milton Friedman. Twenty years from now this just might be the book people are talking about. The writing is excellent, with great examples and historical detail. I admire the ambition and willingness to experiment, a rare thing in economics these days. It just might help launch a new branch of political economy."
Vitalik Buterin
Vitalik Buterin
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" 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…All in all, I am optimistic that the various behavioral kinks around implementing ‘radical markets’ in practice could be worked out…

I particularly welcome the use of the blockchain and crypto space as a testing ground…Could decentralized institutions like these be used to solve the key defining challenges of the twenty first century? All in all, I highly recommend Radical Markets…to anyone interested in these kinds of issues, and look forward to seeing the discussion that the book generates."
Rachael Meager
Rachael Meager
London School of Economics
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" ’Radical Markets’…has made me deeply question my fundamental view of how the global economy should work in ways I have not done in almost ten years…Since I learned undergraduate economics and until i read this book I was convinced that private property was a necessary precondition to prosperity and I thought there was nothing you could say to convince me otherwise.

Well, they make an astonishingly compelling case against it..Before I read Radical markets I think I was just resigned to our current system being approximately first best and couldn’t see how to upend entrenched wealth inequalities without damaging prosperity in a major way. That book convinced me another world might be possible."
 Gian Volpicelli
Gian Volpicelli
WIRED UK
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" Weyl may well wind up becoming Ethereum’s chief economic thinker."
Jennifer Chayes
Jennifer Chayes
Microsoft Research
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" It is supremely creative and wildly provocative, with new approaches to property, voting (governance), immigration, institutional investing, the value of data, and more. As a physicist, I’d say that this book is “perturbing around a different ground state" than our current political and economic systems. I don’t agree with all of it, but it’s definitely worth a read!"
Laura Klompenhouwer
Laura Klompenhouwer
NRC Handelsblad
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" A central persuasive ambition of Radical Markets is to ignore the traditional left-right debate that dominated the twentieth century…Its well-founded, out-of the-box solutions address, in a stroke, all sorts of major social challenges. That make it a refreshing and dazzling book for readers interested in radical new solutions. Whether it can convince the critics of mainstream economics with its plea for ever more radical markets is the leading question."
Jordan Daniell
Jordan Daniell
ETH News
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" (T)he ‘decentralized revolution’ has yet to…truly change things for the better…A new book…might hold the answer. ‘Radical Markets’ is reinvigorating the Ethereum ecosystem with ambition to change the world…by helping create a more just and fair society….While Weyl is somewhat of an outsider in the cryptospace, he might be exactly the type of thought leader the Ethereum ecosystem needs."
Eytan Avriel
Eytan Avriel
Ha’aretz The Marker Week
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" These ideas will creep into public discourse and be fought tooth and nail by the elites and the wealthy…sounds like a socialist attack the rich and the corporate establishment, but many label him ‘extreme right’ because he offers more open, liquid and competitive markets than…anyone has imagined to this day."
Molly Wood
Molly Wood
Marketplace
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" There are a lot of very provocative and very well thought-out ideas in there and it is more than worth a read…I think I talked to this guy for thirty-five minutes, which is somewhat unheard of in the radio world, and would have talked to him for at least an hour longer."
Martha C. Nussbaum
Martha C. Nussbaum
University of Chicago
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" In our difficult times, with mounting anxieties over migration, global inequality, and the cohesiveness of public culture, many are inclined to reject market-based solutions as heartless and elitist. Eric Posner and Glen Weyl argue that market-based ideas of a radically new sort (though based on neglected insights from the past) have the power to create greater equality and reciprocity. Counterintuitive and fascinating, this book will be an essential part of the debate about global issues going forward."
Jason Furman
Jason Furman
Former chairman of President Obama’s Council of Economic Advisers
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" The most provocative and nearly mind blowing economics book has been Radical Markets by Eric Posner and Glen Weyl."
Steven Levitt
Steven Levitt
Author of Freakonomics
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" The most important part of [this] book are the ideas: radical, interesting. There were things I thought I knew for sure that I wasn’t sure I knew afterwards."
Bryan Caplan
Bryan Caplan
George Mason University
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" ’Radical Markets’…it’s well worth the price. The book isn’t just engaging and exceedingly well-written. Its policy proposals and vision are thought-provoking enough to inspire twenty blog posts."
John Thornhill
John Thornhill
Financial Times
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" Both a savage critique of ‘techno-feudalism’ and an idealistic appeal to share the fruits of our collective intelligence more fairly."
Matthew Prewitt
Matthew Prewitt
BlockChannel
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" (W)hile some of this book’s specific proposals are more attractive than others, they add up to a compelling case that libertarianism and egalitarianism are not natural enemies. This is no small achievement. Indeed, a convincing marriage of egalitarianism and libertarianism could be a game-changing political menu option. Also, it might be just what blockchain technologists have been looking for."
Satya Nadella
Satya Nadella
Chief Executive Officer, Microsoft
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" 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."
Amjad Masad
Amjad Masad
Founder, Repl.it
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" ’Laissez-faire Socialism’ sounds like an oxymoron but Radical Markets makes a good case for it. While I’m generally skeptical of “post-capitalism," typically neo-Marxist solutions to today’s issues, there are a couple of compelling proposals in this book."
Daniel T. Roberts
Daniel T. Roberts
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" ‘Radical Markets’…a work of social thought, not social science…human laws are not universal laws,…Unfortunately, human imagination can fail…Through bold works of social thought, the Political Economists…shook to life a world still wrapped in the shroud of feudalism. We have today’s liberal democratic order to thank for it…’Radical Markets’ is an equally bold work for the modern world."
Matt Kahn
Matt Kahn
University of Southern California
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" This book is a fascinating book filled with ideas and at some abstract level I see it as presenting a new set of rules of the game that if we were to adopt these rules…I believe that these rules would produce economic growth and would reduce inequality in our society. I’ve actually never read a book with so many ideas all bundled together."
Scott Duke Kominers
Scott Duke Kominers
Bloomberg View
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" (I)f you’d rather spend the summer completely rethinking capitalism, “Radical Markets" might be your coup of tea. There, Eric Posner and Glen Weyl argue against private property — and for treating the data we generate on the internet and elsewhere as akin to labor. But unlike other accounts seeking to uproot capitalism, the logic here comes not from a desire to constrain markets, but rather to make them more all-encompassing."
Nathaniel Schneider
Nathaniel Schneider
America
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" At a time when U.S. politics chews relentlessly on stale ideologies left over from the Cold War, the originality and ambition of these ideas make for refreshing science fiction. Like good scientists, Posner and Weyl stress the need for testing and evaluation. Yet what makes their proposals seem especially fictional nowadays is the presumption of a functioning technocracy in search of evidence-based, win-win solutions to common problems. If nothing else, this book is a reminder of how far from sober rationality American government has come."
David R. Henderson
David R. Henderson
Regulation
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" In Radical Markets…Posner and…Weyl propose a radical restructuring of property rights, immigration policy and voting…For all of these positions, they make clever and sometimes compelling arguments…I hope that policymakers and others will outright reject…Posner and Weyl’s drastic proposal for undercutting property rights and substantially redistributing wealth. On the other hand, I hope they implement the quadratic voting proposal and increase individual Americans’ ability—while not taking away corporations’ ability—to hire immigrants."
Don Firke
Don Firke
Choate Rosemary Hall Bulletin
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" Implementation of their daring and original ideas could spur global economic growth to levels not seen for more than half a century, while simultaneously reducing income inequality significantly."
Tyler Cowen
Tyler Cowen
Marginal Revolution
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" (I)f you want a book that is smart, clearly written, dedicated to Bill Vickrey and sees its premises through to their logical conclusions, I am happy to recommend this one…If nothing else, it will force you to clarify what you actually like about markets, or don’t, and what you actually like about economics, or don’t…at the very least, it is worth thinking through why we do not handle life as a second-price auction."
Vanessa Bee
Vanessa Bee
Current Affairs
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" … some of their proposals are interesting and should be given serious thought. The book chapters on land monopolies and voting, for example, raise problems and suggest solutions that the left could build upon for more radical (little “r" ) outcomes. Their chapter on corporate market power raises interesting questions."
Edmar Bacha
Edmar Bacha
O Globo
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" Radical Markets is a book whose relevance to the rethinking of capitalism rivals that of Thomas Piketty’s bestseller Capital in the 21st Century."
Dov Zigler
Dov Zigler
American Affairs Journal
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" Radical Markets is at its best in pointing out the sectors of the economy that are most in need of dramatic reform."
Greg Ip
Greg Ip
Wall Street Journal
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" Many of today’s boldest thinkers across the ideological spectrum think the economy’s most serious malady isn’t inequality, populism or big government: it’s monopoly…Now, from the libertarian end of the spectrum comes a more radical approach…redesigning market mechanisms from the ground up to break monopolies’ hold on our data, property, economy and even politics."
Ananya Chakravarti
Ananya Chakravarti
Georgetown University
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" I don’t say this lightly but it is my firm belief that this is the most consequential work of political economy of the 21st century. If you haven’t already, RUN out and buy a copy."
Peter Coy
Peter Coy
Bloomberg Businessweek
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" 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."
Branko Milanovic
Branko Milanovic
author of Global Inequality
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" One of the most exciting books in the social sciences published in the past several years. Very original, using a consistent ideological approach, and intellectually compelling."
Henry Curr
Henry Curr
The Economist
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" (A)n arresting if eccentric manifesto for rebooting liberalism…the policies they advocate…may help jolt liberals out of their hand-wringing, and shape a new line of market-oriented thinking, as Milton Friedman’s ‘Capitalism and Freedom’ did…refreshing and welcome in its willingness to question received wisdom…(L)iberals must find some antidote to populism and protectionism. A little outlandishness may be necessary."
Jean Tirole
Jean Tirole
Toulouse School of Economics, Nobel Laureate in Economics, and author of Economics for the Common Good
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" Radical Markets thinks big and builds daring proposals, all on a unified theme: the need for maintaining competition and eliciting decentralized information, whose neglect led to the demise of planned economies. Whether you are convinced by the specific proposals or not, your confidence in your worldview may well be shattered by the depth and originality of the analysis."
John Joseph Horton
John Joseph Horton
New York University
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" I’m only a 1/3 of the way through @glenweyl‘s book & it’s already stimulated 2 solid, practical market design ideas I want to try out in online markets. I had high expectations for this book, but it’s even better than I expected – read it!."
Robert Morris
Robert Morris
San Francisco Review of Books
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" Radical Markets by Eric A. Posner and E. Glen Weyl is an outstanding read."
Voltairine Linnell
Voltairine Linnell
Center for a Stateless Society
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" Overall, this book has renewed my confidence that mechanism design is a powerful tool for social change. Combined with the decentralizing potential of cryptocurrencies, market radicalism could forever change the landscape of political economy. No longer is it necessary to strike a balance between freedom and equality; by fully unleashing the potential of markets, both can be maximized simultaneously. I would highly recommend reading this book; even if you don’t like the proposals, it will give you a taste of the potential of mechanism design for radical social change."
Ioana Marinescu
Ioana Marinescu
Liberation
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" The new revolutionaries in economic thought come for the University of Chicago…who have the ambition of using market mechanisms to combat the excesses of capitalism…This innovative proposal deserves debate at a moment when the left lacks new ideas to combat inequality in the face of mounting populism."
Michael Clemens
Michael Clemens
Center for Global Development
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" Just came from watching the genius @glenweyl present #RadicalMarkets. Anyone interested in economic policy would be enriched by thinking through these visionary ideas for themselves, whatever they conclude."
Tim Harford
Tim Harford
Author of The Undercover Economist
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" 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."
Paschal Donohoe
Paschal Donohoe
Irish Finance Minister, Irish Times
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" 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."
Yascha Mounk
Yascha Mounk
Author of The People vs. Democracy and Executive Director of the Tony Blair Institute for Global Change
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" We have to keep thinking about how we can put forward the kinds of political alternatives that will allow us to beat Donald Trump, to beat the populist wave around the world…One of the more interesting…ideas to do that in recent months is a really interesting new book by Glen Weyl and Eric Posner called Radical Markets: Uprooting Capitalism and Democracy for a Just Society."
Ryan Avent of The Economist
Ryan Avent of The Economist
Medium
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" It strikes me as a very important book indeed….Radical Markets is excellent, and well worth reading. For me, a good non-fiction book is one which occasionally forces me to stop reading and just think for a while. This one did that several times."
Massimo Gaggi
Massimo Gaggi
Corriere della Serra
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" (T)heir analysis of the ineffectiveness of antitrust instruments and the need to tackle the problem of monopolies in different terms than in the last century is invaluable…While their ideas about property, certainly unpopular with those of more advanced years, could please young people who have grown up in a virtual world in which it is more important to use things than to possess them."
Robin Hanson
Robin Hanson
Overcoming Bias
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" I applaud the ambition of the book, and hope to see more like it…Their best proposal come in section one…For property that is publicly known and visible, such as land and patents…this idea seems ready to go live, and I endorse it…Overall, it is great to see a wider public becoming exposed to ambitious proposals for social reform based on solid social design analysis."
Péter Isztin
Péter Isztin
Müüt
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" Posner and Weyl have written a classic, worthy of the spirit of their radical liberal forbears. I recommend it to anyone with an open mind…Besides economists, I recommend it to political philosophers and their customers, politicians: Posner and Weyl offer a definitive solution to the populist storm that hovers over the liberal order…An awesome set of proposals for a difficult time."
Hanoch Dagan
Hanoch Dagan
Michigan Law Review
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" Eric Posner & Glen Weyl’s Radical Markets: Uprooting Capitalism and Democracy for A Just Society is an enormously ambitious new book, one that challenges conventional wisdom and advances bold reform programs…There is much to admire and quite a bit to endorse in Posner and Weyl’s willingness to rethink the obvious, their resistance of the conventional wisdoms of both right and left…and their imaginative reform proposals."
Carol Massar
Carol Massar
Bloomberg Radio
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" What I love is just some new ideas, because the existing ideas to solve the injustices and inequalities aren’t working! A must-read."
Ryan Bourne
Ryan Bourne
Cato Institute
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" Do read book – interesting throughout! Not convinced w underlying claims about monopolization & inequality mainly reflecting markets not working, but some policy ideas nevertheless fascinating solutions to genuine problems."
Filipe Serrano
Filipe Serrano
Exame
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" From time to time, humanity is faced with transformations so profound that the very model of organization of the economy and politics is questioned…For Eric Posner, a law professor at the University of Chicago, and Glen Weyl, an economist at the Microsoft Research Institute, society today is experiencing one of those moments of questioning…The solution, for them, involves new ways of taxing the property, a new electoral system and a model that remunerates Internet users for the use of their personal data. These are bold proposals and hard to implement. But the idea of ​​the American authors has drawn the attention of the most influential economists of the world. People like Kenneth Rogoff, former chief economist of the International Monetary Fund, say the book is the most ambitious attempt to rethink markets and democracy since the work of the American economist Milton Friedman (1912-2006)."
Sherman Lee
Sherman Lee
Forbes
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" Vitalik of Ethereum believes quadratic voting to be a leading candidate to address governance problems on blockchain"
Reihan Salam
Reihan Salam
National Review’s The Editors Podcast
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" 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."
American Banker
American Banker
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" By no means a practical roadmap, this alternately refreshing and frustrating thought experiment from Eric A. Posner & E. Glen Weyl is a worthwhile reminder that even the most fundamental economic ideas are worth reconsideration from time to time."
Gaspard Koenig
Gaspard Koenig
Generation Libre
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" 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."
David S. D’Amato
David S. D’Amato
Libertarianism
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" Posner and Weyl deserve credit for doing what few scholars are willing or able to do, offering audacious ideas that breach canned ideological and disciplinary boundaries. This is a book for people who seek out bold thinking and fresh perspectives, and its self-conscious category defiance follows that of its inspiration [Henry George]… It rejects and transcends the banalities and false dichotomies of the prevailing conversation, confident in the power of its ideas and of ideas generally."
The Neoliberal Project
The Neoliberal Project
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" It’s radical, it’s market-oriented, and it’s going to drive conversation and policy for decades to come. Glen and Eric do a deep dive into the art and science of mechanism design, a field at the intersection of economics and engineering. They explore how quadratic voting can optimize electoral outcomes, dig into the implications of a futuristic tax system that would make Henry George swoon, and much more. Heartily recommended."

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