Is the market the key to freedom and prosperity? Don’t markets necessarily lead to economic inequality? Is it possible to make markets work better for everyone? Our question for today is whether markets -- so called radical markets -- can cure the ills of our new gilded age.
What Is It
Many people think that growing inequality, the rise of populism and nativism, and the decay of democratic institutions all have the same cause—the overreach of markets. The solution, they believe, is to limit the market through regulation. But what if rather than shrinking the market, the answer lies in expanding the market? Is it possible that we haven't let markets go far enough? Do our current regulations lead to too many monopolies? And could turning more things into assets that are for sale to the highest bidder actually be the solution to our new gilded age? Debra and Ken buy and sell with Glen Weyl from Yale University, co-author of Radical Markets: Uprooting Capitalism and Democracy for a Just Society.