Radical Markets by Eric Posner and E. Glen Weyl: A Review Essay
- (pp. 471-87)
Abstract
At a time when standards of living have improved more than any time in history, this book makes a proposal for radical change. It is based—loosely—on market design principles. The plan for attacking overlapping ownership is reasonably well thought out. Most of the book, however, proposes to use mechanisms designed for a narrow purpose; to attack real or imagined problems that they are ill-suited to solve. I conclude that while market design has a lot to offer when properly applied, the proposals here are not sufficiently well thought out to constitute a serious plan of action.Citation
Levine, David K. 2020. "Radical Markets by Eric Posner and E. Glen Weyl: A Review Essay." Journal of Economic Literature, 58 (2): 471-87. DOI: 10.1257/jel.20191533Additional Materials
JEL Classification
- D44 Auctions
- D47 Market Design
- D72 Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
- D82 Asymmetric and Private Information; Mechanism Design
- P14 Capitalist Systems: Property Rights