Property Rights and Markets Smackdown
Drs. Glen Weyl and Tom Hazlett will throw down at TPI on November 16 over the future of capitalism, property rights, and voting. Dr. Weyl will argue from his book coauthored with Eric Posner, Radical Markets: Uprooting Capitalism and Democracy for a Just Society, that markets are the best way to organize society but that they have been implemented in ways that lead to monopolization and inequality. Dr. Hazlett will counter that markets, perched on decentralized ownership rights, have democratized society and opened up resources we didn’t even know we had.
Weyl’s book, Radical Markets, was described in the Financial Times as “a savage critique of ‘techno-feudalism’ and an idealistic appeal to share the fruits of our collective intelligence more fairly.” Hazlett’s recent book, The Political Spectrum, was described by Nobel Laureate Vernon Smith as “a masterpiece of wit and wisdom…”
About the Book
Radical Markets turns…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…
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.
“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
About the Author
E. (Eric) Glen Weyl is a Principal Researcher at Microsoft Research New York City, who uses ideas from political economy to develop social technology for widely-shared prosperity and social cooperation. His recent book with long-time collaborator Eric A. Posner, Radical Markets: Uprooting Capitalism and Democracy for a Just Society, develops a new social ideology based on radically extending market exchange to dramatically reduce inequality of wealth and power. He is teaching a course on the book at Princeton University this fall as a Visiting Research Scholar and Lecturer. Wired Magazine last month labeled him as one of 25 people shaping the next 25 years of technology.