Chicago Maroon: Can you give a quick summary about what Radical Markets is about? How long have you been working on it?  

Posner: The book is about how to design markets and market institutions, so as to advance both economic growth, or wealth generally, and equality. Often, people think that markets are inconsistent with equality. Their argument is that [markets] depend on how they're designed and they can be designed in ways to advance equality as well as wealth. And one of the premises of the book is that the market institutions we currently have were developed a long time ago, before the radical changes in technology that we've experienced over the last several decades. One of the reasons the country has experienced slow economic growth and worsening inequality in recent years is that the market institutions we have are out of date. The book goes through five topics where markets have done poorly and where they could be improved.

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