Eric Posner E Glen Weyl – Auctions will set you free
Old idea markets. Idealized markets. Fundamentalism=capitalism. Gov – focus on protecting property and enforcing contracts. Radical markets decentralized power and spur social action. Left tax rich to spur things. middle. Manage country. right – get HIV out of way and all grow. All land owned by all. But all up for auction. We all benefit. Not concentrate in a few.
Adam Smith -radical- allocative efficiencies lead to private property. But no in the way. Henry George – property in way of equality. Common ownership way to go. Tax full value of land. Buildings except. But must pay full price of tax.
Vicary. Mechanism design. Auction to allocate resource in city. Wanted to
Land owned by state. And rent returned to people they pay or services.
Texas shootout to find value of partnership. Bid to by out.
Chapter 3 Property is monopoly. Partial ownership to create competitive market. Liquid and transparent for land. Smith. Right to trade key part of capitalism. Long distant trade cost go down, specialization thrives.
Bentham. Commons rights. Freer right and enclosure of land. Pasture land to family farm. Income grew faster than population for first time. However benefits collected by a few. George – able to make wealth. Labor much more efficient.
Chapter 2 Inequality not just result of diverging skills but a shift away from wages. Money made going to the few thru policy. Excess profit – more than regular in open market indicates monopoly. Rising in us and claims by wealthyMark up price and market valve. Smith think inequality mostly thru laws and policía. Political and economic privledged tied.
Stagnqualtiy. No growth. Too much power shifted to elites.
Chapter 4- Radical dem. Quadratic voting. Intensity of preference in voting. Simple choice throws out info. Weighted voted. More weight for what u want. But takes lots of weight to increase vote.
QV – Q decide. Tested in opinión survey. Licketered survey. Like mire or less, most all like or hate. Nothing on line so people shout. 0 or 5 stars.
QV budgets the amount of votes u get. People find much more middle road as they votes. Single issue people lots of less.
Voting. Voted for or against others. U can spend votes knocking people out. Both Hillary and Trump would have been dumped.
QV 20% increase in GDP
Institutions investors. Prices go up. Refuse competition and increase price. Wage down Blackrock diversifies across industry. Not in. Own as much of one airline and Pepsi’s. But it coke or other airline. Not own more than 1% of industry
Chapter 7Data. Google only 1% to wages. WalMart 40%. Don’t pay most workers – us. Needs to change. Data users as day laborers.
Chapter 8Market power hordes property and depressed growth and unemployment. Monopsony power – Institutional investors or data owners holds down wage, Lower. productivity. Reforms to end serfdom and slavery as important as steam engine to industrial revolution. Antitrust, unemployed Support, lead to WWii expand. Neoliberal lies killing is.