Radical Markets and the Captured Economy

May 1, 2018
Harper Center C25 5807 S Woodlawn Ave

Join us for a conversation with authors Brink Lindsey, Steven Teles; Eric Posner and Glen Weyl on their latest books–The Captured Economy: How the Powerful Enrich Themselves, Slow Down Growth, and Increase Inequality; and respectively Radical Markets: Uprooting Capitalism and Democracy for a Just Society. The conversation will be moderated by Georgetown University’s Katherine Waldock.

Description of the books:

The Captured Economy: How the Powerful Enrich Themselves, Slow Down Growth, and Increase Inequality
Brink Lindsey and Steven Teles identify a common factor behind America’s slow economic growth and increasing inequality: breakdowns in democratic governance that allow wealthy special interests to capture the policymaking process for their own benefit. When the state entrenches privilege by subverting market competition, the tradeoff between equity and efficiency no longer holds. Freeing the economy from regressive regulatory capture will be difficult. Lindsey and Teles are realistic about the chances for reform, but they offer a set of promising strategies to improve democratic deliberation and open pathways for meaningful policy change. An original and counterintuitive interpretation of the forces driving inequality and stagnation, The Captured Economy will be necessary reading for anyone concerned about America's mounting economic problems and the social tensions they are sparking.

Radical Markets: Uprooting Capitalism and Democracy for a Just Society
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. It 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 lead to greater equality, prosperity, and cooperation. Eric Posner and Glen Weyl demonstrate why private property is inherently monopolistic, show how the principle of one person, one vote inhibits democracy, and argue that every citizen of a host country should benefit from immigration―not just migrants and their capitalist employers. They propose leveraging antitrust laws to liberate markets from the grip of institutional investors and creating a data labor movement to force digital monopolies to compensate people for their electronic data. 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.

Watch Video

12:00 p.m. Registration, discussion and Q&A
1:00 p.m. Adjournment and book signing


Brink Lindsey is vice president and director of the Open Society Project at the Niskanen Center. His current research focuses on policy responses to slow growth and high inequality. Prior to joining Niskanen, he worked at the Cato Institute, most recently as vice president for research. From 2010 to 2012, Lindsey was a senior scholar in research and policy at the Ewing Marion Kauffman Foundation. His previous books include Human Capitalism: How Economic Growth Has Made Us Smarter—And More Unequal; The Age of Abundance: How Prosperity Transformed America’s Politics and Culture; Against the Dead Hand: The Uncertain Struggle for Global Capitalism; and Antidumping Exposed: The Devilish Details of Unfair Trade Law. He has also edited two ebooks – Reviving Economic Growth and Understanding the Growth Slowdown. His writings have been published widely in major media outlets.

Eric Posner is Kirkland and Ellis Distinguished Service Professor of Law and Arthur and Esther Kane Research Chair at the University of Chicago Law School. His current research interests are international law and constitutional law. His books include The Twilight of International Human Rights; Economic Foundations of International Law; Contract Law and Theory; The Executive Unbound: After the Madisonian Republic; Climate Change Justice; The Perils of Global Legalism; Terror in the Balance: Security, Liberty and the Courts; New Foundations of Cost-Benefit Analysis; The Limits of International Law; Law and Social Norms; Chicago Lectures in Law and Economics; Cost-Benefit Analysis: Legal, Economic, and Philosophical Perspectives. He is a fellow of the American Academy of Arts and Sciences and a member of the American Law Institute.

Steven Teles is professor of political science at Johns Hopkins University and fellow at the New America Foundation. He is the author of Prison Break: Why Conservatives Turned Against Mass Incarceration; Rise of the Conservative Legal Movement: The Battle for Control of the Law; Whose Welfare: AFDC and Elite Politics; and co-editor of Conservatism and American Political Development and Ethnicity; and Social Mobility and Public Policy: Comparing the US and UK. He is also the editor of Oxford University Press' book series on Contemporary American Political Development. Teles has also published articles in the New Statesman, American Prospect, Public Interest, National Affairs, The American Interest, Prospect (UK) and Boston Reviews.

Glen Weyl is a principal researcher at Microsoft Research New England whose work aims to use technology and economics to find new ways to organize societies to reduce inequality, increase productivity and ease political tensions. He is visiting Yale University as a visiting senior research scholar and lecturer in the economics department and law school. He was valedictorian of Princeton University’s 2007 class, receiving an AB in economics, followed by an MA and PhD in 2008. He then spent three years as a junior fellow at the Harvard Society of Fellows and three years as an assistant professor at the University of Chicago before joining Microsoft. He is a Sloan Research Fellow 2014-2018. Glen’s research draws on insights from adjacent disciplines to radically expand the scope of market exchange. He has published articles based on this work in many journals.

Katherine Waldock (moderator) is an assistant professor of finance at the McDonough School of Business and holds a courtesy joint appointment with the Georgetown Law Center. She is also co-host of the Capitalisn’t podcast with Chicago Booth professor Luigi Zingales. She received a PhD in finance from the NYU Stern School of Business and a BA in economics from Harvard University. Her primary research interests are in corporate bankruptcy, law and finance, small businesses, and financial institutions. She has worked as an intern for Lehman Brothers Inc. and the Office of Financial Research and as a consultant to the Pension Benefit Guaranty Corporation. Her writing has been featured in the Huffington Post and WalletHub.


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