What are Radical Markets and what do they have to do with blockchains? - Crypto in Plain English - Episode 288 - by cryptohunt.it

What are Radical Markets and what do they have to do with blockchains?

Welcome to the Cryptohunt Jam, where we spend one minute a day to explain crypto. In plain English.

Have you ever looked around and noticed all these economical problems that society seems to face? We are sure you did, and you likely even started to think about solutions.

Let's take inequality as an example, the gap in distribution of wealth between the rich and the poor.

Your intuition would probably be to say: We have let free markets go way too far. Governments should regulate them and redistribute wealth. We could impose fairer taxes and new laws.

It may come as a surprise to you then, as much as it did to us, that there are people who suggest the exact opposite: Truly free markets, so-called Radical Markets.

Think that makes no sense? Because free markets have pushed us to where we are? Let’s explore the idea together then!

The idea is that we have a simple set of rules that govern our market, but within those, participants can all make equal decisions without restrictions.

Let's take the example of property. Inequality exists, because some people have a lot, and some people have almost nothing. One idea of radical markets is to force property to always be for sale to the highest bidder, and those who own it, to pay taxes on it. Let's say you own land, you'd have to sell it to anyone who's offering you more than you are willing to pay tax on. And when property can pass hands freely, it will most likely be utilized to be productive - someone may build a factory on the land they bought from you for example.

So: Radical Markets are not about creating unfair markets, they are about creating rules that force everyone to always be IN the market.

So – what does that have to do with crypto? Well, for the first time in a very long time, blockchains are a technology that allows new experiments like Radical Markets to be implemented. This is because blockchains are not controlled by governments and companies, who have little interest in those idea, and thus are a great way to try more radical ideas. In fact, blockchains have attracted a lot of free thinkers that constantly ask themselves: Now that we can program the way money flows, how can we use that power to create a better society?

And on Monday, we'll continue this topic with the related idea of quadratic voting, but bring it back into reality a notch by looking at a project called Gitcoin.

This podcast is produced by Cryptohunt.it the easiest place to learn crypto. Copywriting is done by Arndt Voges, Social Media is done by Brett Holleman, Design is done by Carmen Rincon and my name is Christian Byza, Co-Founder of Cryptohunt and I am your host of this daily show.

Disclaimer: This podcast references our opinion and is for information purposes only. It is not intended to be investment advice. Do your own research and seek a duly licensed professional for investment advice.