Radical Markets: 8 key ideas
The core ideas of Radical Markets, each in under a minute, written in our own words. Want the full depth? Get the book.
- IDEA 1 OF 8
Markets can be made more radical
Posner and Weyl argue that markets, properly designed, can reduce inequality and improve democracy.
They propose bold changes to property, voting, migration, competition and data, aiming to make markets more fair and more competitive.
- IDEA 2 OF 8
Property can be partly common
Their COST proposal asks owners to set a public price on their property and pay tax on that value.
Anyone willing to pay that price can buy it. This discourages hoarding and lets assets move to those who value them most.
- IDEA 3 OF 8
Votes can show intensity
Quadratic voting gives people credits they can spend on issues they care about, with each extra vote costing more.
The authors argue this lets people express how strongly they feel and protects minorities who care deeply about particular issues.
- IDEA 4 OF 8
Individuals could sponsor migrants
The authors propose letting ordinary citizens sponsor migrant workers and share in the benefits.
They argue this would spread the gains from migration more widely and build support for it.
- IDEA 5 OF 8
Big investors can reduce competition
The authors argue that large institutional investors owning shares in rival firms may weaken competition.
They suggest limiting such ownership to restore competitive pressure. Common ownership quietly softens rivalry, raising prices for consumers.
- IDEA 6 OF 8
Data should be treated as labour
The authors suggest that the data people create online is a form of work that companies profit from.
They propose paying people for their data, which could share technology's gains more fairly.
- IDEA 7 OF 8
Monopoly power harms everyone
The authors argue that concentrated ownership and market power cause inequality and slow growth.
Their proposals aim to break up monopoly power in many forms. Reform could unlock growth. Power shapes outcomes.
- IDEA 8 OF 8
Bold ideas deserve testing
The authors admit their ideas are radical and untested.
They encourage experiments to see whether such market designs can work in practice. Their aim is to start a debate, not end one.
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