Radical Markets

Radical Markets

With a new foreword by Ethereum creator Vitalik Buterin and virtual reality pioneer Jaron Lanier as well as a new afterword by Eric Posner and Glen Weyl, this provocative book reveals bold new ways to organize markets for the good of ...

Author: Eric A. Posner

Publisher: Princeton University Press

ISBN: 9780691196978

Category: Business & Economics

Page: 384

View: 292

Revolutionary ideas on how to use markets to achieve fairness and prosperity for all Many blame today's economic inequality, stagnation, and political instability on the free market. The solution is to rein in the market, right? Radical Markets turns this thinking on its head. With a new foreword by Ethereum creator Vitalik Buterin and virtual reality pioneer Jaron Lanier as well as a new afterword by Eric Posner and Glen Weyl, this provocative 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. 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.
Categories: Business & Economics

The Technological Politics of Mechanism Design

The Technological Politics of Mechanism Design

Such questions get to the heart of what we call in this Review the technological politics of mechanism design: the implicit political and ethical commitments of social institutions derived through the logic of mechanism design.

Author: Zoë Hitzig

Publisher:

ISBN: OCLC:1299445768

Category:

Page: 14

View: 614

Eric Posner and Glen Weyl's Radical Markets is dedicated to Vickrey and opens with a preface titled “The Auction Will Set You Free.” Vickrey's ideas offer a middle ground, according to Posner and Weyl, between the Right's view that markets must be “strengthened, expanded and purified” and the Left's conviction that “existing social arrangements generate unfair inequality and undermine collective action.” Vickrey's spirit animates the five specific proposals in the book -- designs for “Radical Markets.” Radical Markets aim to transcend politics and solve the most urgent social ills of the day: income inequality, economic stagnation, and political strife. Further, for Posner and Weyl, Vickrey-inspired mechanism design can achieve an even more ambitious task -- that of (as their book's subtitle suggests) “Uprooting Capitalism and Democracy for a Just Society.”But how exactly does economic theory mediate a compromise between values of the Left and Right? Such questions get to the heart of what we call in this Review the technological politics of mechanism design: the implicit political and ethical commitments of social institutions derived through the logic of mechanism design. Attending to the technological politics of a mechanism is prerequisite to understanding whether the mechanism in fact earns its claim to ethical or political virtue.In order to understand the implications and limitations of Posner and Weyl's capacious vision, we explore the unspoken ethics and politics of two of their proposals in detail. Omitting a discussion of the technological politics of “Quadratic Voting” leaves the proposal unable to address the ways in which pre-existing structural inequality could differentially affect different social populations. Meanwhile, the Authors' inattentiveness to the technological politics of “Data as Labor” leads them to an overly narrow set of possible solutions to problematic data extraction. Our analysis demonstrates the value of articulating the relationship between mechanism design and claims about just social arrangements. As such, we suggest that Vickrey's bold economic ideas need political and ethical reasoning in order to realize their radical potential.
Categories:

The Demagogue s Playbook

The Demagogue s Playbook

"It is hard to imagine understanding the Trump presidency and its significance without reading this book.” —Bob Bauer, Former Chief Counsel to President Barack Obama What—and who—is a demagogue?

Author: Eric A. Posner

Publisher: All Points Books

ISBN: 9781250303028

Category: Political Science

Page: 272

View: 895

A New York Times Book Review Editor's Pick What Happens to Democracy When a Demagogue Comes to Power? "It is hard to imagine understanding the Trump presidency and its significance without reading this book.” —Bob Bauer, Former Chief Counsel to President Barack Obama What—and who—is a demagogue? How did America’s Founders envision the presidency? What should a constitutional democracy look like—and how can it be fixed when it appears to be broken? Something is definitely wrong with Donald Trump’s presidency, but what exactly? The extraordinary negative reaction to Trump’s election—by conservative intellectuals, liberals, Democrats, and global leaders alike—goes beyond ordinary partisan and policy disagreements. It reflects genuine fear about the vitality of our constitutional system. The Founders, reaching back to classical precedents, feared that their experiment in mass self-government could produce a demagogue: a charismatic ruler who would gain and hold on to power by manipulating the public rather than by advancing the public good. President Trump, who has played to the mob and attacked institutions from the judiciary to the press, appears to embody these ideas. How can we move past his rhetoric and maintain faith in our great nation? In The Demagogue’s Playbook, acclaimed legal scholar Eric A. Posner offers a blueprint for how America can prevent the rise of another demagogue and protect the features of a democracy that help it thrive—and restore national greatness, for one and all. “Cuts through the hyperbole and hysteria that often distorts assessments of our republic, particularly at this time.” —Alan Taylor, winner of the 2014 Pulitzer Prize for History
Categories: Political Science

The Common Ownership Self Assessed Tax and the Current State of Harberger Taxation

The Common Ownership Self Assessed Tax and the Current State of Harberger Taxation

Seminar paper from the year 2019 in the subject Business economics - Accounting and Taxes, grade: 1.0, University of Mannheim (Department of Economics), course: New Approaches to Economic and Public Policy, language: English, abstract: This ...

Author: Ulrich Roschitsch

Publisher:

ISBN: 3668988188

Category:

Page: 24

View: 194

Seminar paper from the year 2019 in the subject Business economics - Accounting and Taxes, grade: 1.0, University of Mannheim (Department of Economics), course: New Approaches to Economic and Public Policy, language: English, abstract: This paper aims at providing a concise description of the current state of the discussion around the mechanism of Harberger taxation, and Posner & Weyl's proposal to universally implement it. In a second part, some thoughts on the consequences of a particularly relevant concern are explored: the failure of agents to assess the value of their property. This might lead to the Harberger tax placing potentially rather different effective tax rates on asset owners, depending on their personal characteristics. In their book "Radical markets: Uprooting capitalism and democracy for a just society", based on a series of papers by the authors and affiliates, Eric Posner and Glen Weyl introduce the idea of partial common ownership: every asset in the economy is constantly auctioned through a mechanism that has been existent in a small strand of literature for quite some time-Harberger taxation. The mechanism has been endorsed by some scholars for its combination of simplicity and incentive compatibility (regarding truthful revelation of valuations), enabling the economy to move to a state of higher allocative efficiency. Other scholars have pointed to some practical, but fundamental issues that might cripple a system of universal Harberger taxation (such as failure to assess value).
Categories:

After Democracy

After Democracy

2 (2013): 138–166; Eric A. Posner and E. Glen Weyl, Radical Markets: Uprooting Capitalism and Democracy for a Just Society (Princeton, N.J.: Princeton University Press, 2018); Sue Robinson, “Searching for My Own Unique Place in the ...

Author: Zizi Papacharissi

Publisher:

ISBN: 9780300245967

Category:

Page: 176

View: 987

What do ordinary citizens really want from their governments?
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Just Giving

Just Giving

Posner, Eric A., and E. Glen Weyl. Radical Markets: Uprooting Capitalism and Democracy for a Just Society. Princeton, NJ: Princeton University Press, 2018. Posner, Richard. “Charitable Foundations.” Becker- Posner Blog, January 1, ...

Author: Rob Reich

Publisher: Princeton University Press

ISBN: 9780691202273

Category: Philosophy

Page: 256

View: 989

The troubling ethics and politics of philanthropy Is philanthropy, by its very nature, a threat to today’s democracy? Though we may laud wealthy individuals who give away their money for society’s benefit, Just Giving shows how such generosity not only isn’t the unassailable good we think it to be but might also undermine democratic values. Big philanthropy is often an exercise of power, the conversion of private assets into public influence. And it is a form of power that is largely unaccountable and lavishly tax-advantaged. Philanthropy currently fails democracy, but Rob Reich argues that it can be redeemed. Just Giving investigates the ethical and political dimensions of philanthropy and considers how giving might better support democratic values and promote justice.
Categories: Philosophy

Data Loam

Data Loam

45 Eric A. Posner and Glen E. Weyl (2018), Radical Markets: Uprooting Capitalism and Democracy for a Just Society, (Princeton: University Press). approaches towards questions of governance (potentially both of and by blockchains), ...

Author: Johnny Golding

Publisher: Walter de Gruyter GmbH & Co KG

ISBN: 9783110697841

Category: Philosophy

Page: 496

View: 775

Als Reaktion auf die dominante Wirkkraft und Deutungshoheit des Digitalen vereint Data Loam auf der Basis von Positionen der internationalen zeitgenössischen Kunstpraxis radikale Denkansätze. Vorbei: das Beharren auf Indexikalität und die instrumentelle Reduktion des Wissens. Stattdessen: eine neue Metrik, die Spiel, Neugier, Experiment und Risiko fordert. Als dringende Antwort auf die stetig wachsende Informationsflut, der Bibliotheken, Suchmaschinen und kulturelle Einrichtungen ausgesetzt sind, werden Ansätze entwickelt, die sinnliche Logik, kausale Durchlässigkeit und neue Formen der Mensch-Maschine-Interaktion anregen und erlauben. Data Loam beleuchtet die Zukunft von Wissenssystemen in Texten zu künstlicher Intelligenz, Kybernetik und Kryptoökonomie: als Gegenmittel zur Zerstreuung apokalyptischer Ängste.
Categories: Philosophy

Data Capital

Data Capital

1See: (1) Posner EA, Weyl EG. Radical Markets: Uprooting Capitalism and Democracy for a Just Society. Princeton, NY: Pricetion University Press (October 8, 2019). 2019; 383 pages; (2) Retrieved from http://radicalmarkets.com.

Author: Chunlei Tang

Publisher: Springer Nature

ISBN: 9783030601928

Category: Political Science

Page: 376

View: 398

This book defines and develops the concept of data capital. Using an interdisciplinary perspective, this book focuses on the key features of the data economy, systematically presenting the economic aspects of data science. The book (1) introduces an alternative interpretation on economists’ observation of which capital has changed radically since the twentieth century; (2) elaborates on the composition of data capital and it as a factor of production; (3) describes morphological changes in data capital that influence its accumulation and circulation; (4) explains the rise of data capital as an underappreciated cause of phenomena from data sovereign, economic inequality, to stagnating productivity; (5) discusses hopes and challenges for industrial circles, the government and academia when an intangible wealth brought by data (and information or knowledge as well); (6) proposes the development of criteria for measuring regulating data capital in the twenty-first century for regulatory purposes by looking at the prospects for data capital and possible impact on future society. Providing the first a thorough introduction to the theory of data as capital, this book will be useful for those studying economics, data science, and business, as well as those in the financial industry who own, control, or wish to work with data resources.
Categories: Political Science

Deaths of Despair and the Future of Capitalism

Deaths of Despair and the Future of Capitalism

Eric A. Posner and E. Glen Weyl, 2018, Radical markets: Uprooting capitalism and democracy for a just society, Princeton University Press. 24. Edmund Phelps, 2009, Rewarding work: How to restore participation and self- support to free ...

Author: Anne Case

Publisher: Princeton University Press

ISBN: 9780691217062

Category: Business & Economics

Page: 336

View: 829

A New York Times Bestseller A Wall Street Journal Bestseller A New York Times Notable Book of 2020 A New York Times Book Review Editors’ Choice Shortlisted for the Financial Times and McKinsey Business Book of the Year A New Statesman Book to Read From economist Anne Case and Nobel Prize winner Angus Deaton, a groundbreaking account of how the flaws in capitalism are fatal for America's working class Deaths of despair from suicide, drug overdose, and alcoholism are rising dramatically in the United States, claiming hundreds of thousands of American lives. Anne Case and Angus Deaton explain the overwhelming surge in these deaths and shed light on the social and economic forces that are making life harder for the working class. As the college educated become healthier and wealthier, adults without a degree are literally dying from pain and despair. Case and Deaton tie the crisis to the weakening position of labor, the growing power of corporations, and a rapacious health-care sector that redistributes working-class wages into the pockets of the wealthy. This critically important book paints a troubling portrait of the American dream in decline, and provides solutions that can rein in capitalism's excesses and make it work for everyone.
Categories: Business & Economics

Digital Technology and Democratic Theory

Digital Technology and Democratic Theory

Radical markets: Uprooting capitalism and democracy for a just society. Princeton, NJ: Princeton University Press. Posner, E. A., & Weyl, E. G. (2014). Quadratic voting as efficient corporate governance (Working Paper No. 643).

Author: Lucy Bernholz

Publisher: University of Chicago Press

ISBN: 9780226748603

Category: Political Science

Page: 344

View: 627

One of the most far-reaching transformations in our era is the wave of digital technologies rolling over—and upending—nearly every aspect of life. Work and leisure, family and friendship, community and citizenship have all been modified by now-ubiquitous digital tools and platforms. Digital Technology and Democratic Theory looks closely at one significant facet of our rapidly evolving digital lives: how technology is radically changing our lives as citizens and participants in democratic governments. To understand these transformations, this book brings together contributions by scholars from multiple disciplines to wrestle with the question of how digital technologies shape, reshape, and affect fundamental questions about democracy and democratic theory. As expectations have whiplashed—from Twitter optimism in the wake of the Arab Spring to Facebook pessimism in the wake of the 2016 US election—the time is ripe for a more sober and long-term assessment. How should we take stock of digital technologies and their promise and peril for reshaping democratic societies and institutions? To answer, this volume broaches the most pressing technological changes and issues facing democracy as a philosophy and an institution.
Categories: Political Science