This intriguing collection is designed to show how economists can play a more active role in designing and directing the nation's social institutions. By taking the task of political economy seriously, the contributors (including some of today's most distinguished economists) reveal the power of economic thought to offer innovative solutions to some of the most difficult problems facing society today. By creating markets where none existed before, the authors propose efficient, reliable, and profitable improvements to current systems of health insurance, financial markets, human organ distribution, judicial practice, bankruptcy and securities regulation, patenting, and transportation. Written in the entrepreneurial spirit, these essays show economics to be an ambitious, dynamic, and far-from-dismal science.
Foreword,Steven Landsburg 1. Introduction,Alexander Tabarrok Part I. Wealth and Health Insurance 2. Macro Markets and Financial Security,Stefano Athanasoulis, Robert Shiller, and Eric van Wincoop 3. Gene Insurance,Alexander Tabarrol 4. Time-Consistent Health Insurance,John H. Cochrane Part II. The Use of Information in Markets 5. Decision Markets,Robin D. Hanson Part III. The Shortage of Human Organs 6. A Market for Organs,Andy H. Barnett, Roger D. Blair, and David L. Kaserman 7. The Organ Shortage: A Tragedy of the Commons?,Alexander Tabarrok Part IV. Efficient Justice 8. A Modest Proposal to Improve Judicial Incentives,Steven Landsburg 9. Privatizing Probation and Parole,Morgan Reynolds 10. More Justice for Less Money: A Step beyondCimino,David Friedman Part V. Bankruptcy and Securities Regulation 11. Improving Bankruptcy Procedure,Philippe Aghion, Oliver Hart, and John Moore 12. Empowering Investors: A MalÓ4
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