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The rise of populism and increasing inequality have led to widespread questioning of democracy and capitalism. Glen Weyl, a political economist and Principal Researcher at Microsoft, along with legal scholar Eric Posner, published a book called ‘Radical Markets’. Radical Markets explores how restructuring property rights and voting systems could lead to more efficient markets and a more just society. Glen joined us to discuss the book and why the blockchain space is a fertile testbed to explore these radical new ideas.
Topics covered in this episode:
- Why blockchain is on a trajectory to exacerbate inequality and fail at improving the world
- Why property should be seen as a monopolistic institution
- How property rights create inefficient markets
- The radical idea of transforming property rights via a Common Ownership Self-Assessed Tax (COST)
- How the one-person-one-vote system contributed to the crisis of democracy
- How quadratic voting works and leads to fairer outcomes
- Whether or not buying of votes should be allowed in QV
- His work with Vitalik and radical markets experiments in blockchain
Episode links:
- Radical Markets
- Glen Weyl Website
- Property is Only Another Name for Monopoly (2017)
- On Radical Markets – Vitalik Buterin Book Review
- Liberation Through Radical Decentralization – Post by Vitalik & Glen
- This economist wants to abolish private property using blockchain | Wired
This episode was hosted by Brian Fabian Crain, and is availble on YouTube, SoundCloud, and our website.
