This note is a part of my Zettelkasten. What is below might not be complete or accurate. It is also likely to change often.
16th July, 2020

Radical Markets - Eric A. Posner, E. Glen Weyl

Authors: Glen Weyl and Eric Posner

The Premise


  • Moral Economy has been replaced by a Market Economy
  • This book draws from the work of Adam Smith and radical economists like Henry George, one of the most widely read economists of all time.
    • Adam Smith originated the idea that if each person acts for their own personal good (while not harming others) it would lead to public good.
    • Henry George recognized that Private property is a monopoly and suggested a tax scheme that would create a Common Ownership structure.
  • William Spencer Vickrey was a follower of Henry George
    • He presented a paper call Counterspeculation, Auctions and Competitive Sealed Tenders - a paper by William Spencer Vickerey where he presented Auctions as a means to solve major societal problems.
    • Helped found the field of economics called Mechanism Design

Chapter 1 - Private Property is a monopoly

Chapter 2 - Radical Democracy