Radical Markets: Solutions for a Gilded Age?

Sunday, July 15, 2018

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.

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Comments (2)


Harold G. Neuman's picture

Harold G. Neuman

Saturday, July 14, 2018 -- 11:11 AM

I do not know how to get your

I do not know how to get your radio broadcasts here in the mid-west. Wish I did. But what you are at least implying by referring to "...growing inequality, the rise of populism and nativism, and the decay of democratic institutions..." seems to run parallel with what I have been hearing about the rise of tribalism---a phenomenon which, seems to me, is arising from social media and a subsequent loss of social skills. Now, it appears you are relating this to markets and economic metadata--IF I am understanding this correctly. But, I would humbly submit that the causation is more complex than market overreach. Stated differently, if imprecisely: there is a lot of overreach going around these days. I'll be looking forward to the outcome of the show, and a better understanding of Weyl and company's premise.
Question: Are the words nativism and tribalism at all interchangeable? Thank you!

marker's picture

marker

Monday, July 16, 2018 -- 9:34 AM

After listening to this show,

After listening to this show, I am left wondering if I missed the definition of what a market is? I'm also wondering if plutocracy and oligarchy are compatible with markets?

Another question I have, is when people independently exchange/barter goods and services outside of the dominant currency system, is this practice considered part of the market discussed in the show? Do economists consider complex monetary communities (communities in which multiple exchange systems are at play--i.e., various forms of cash, barter, gift, credit, from diverse sources of power--are encouraged and actively flourishing) when attempting to assess economic health?

Thanks for your wonderful show!
Mira

Glen Weyl, Principal Researcher, Microsoft Research New England

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