The Wall Street Journal on Eric Posner's Book "Radical Markets"
Demolishing Monopoly From Below: How Two Radicals Would Remake Markets
Mr. Weyl, who considers himself a "market radical" rather than libertarian, met Mr. Posner and the two have since co-written academic articles and now, a book: "Radical Markets: Uprooting Capitalism and Democracy for a Just Society."
In it, they identify land as one of the most rudimentary sources of monopoly: the supply is fixed, which empowers holders to stifle far more productive uses, either private (like an apartment building) or public (such as public transit). The usual solution is "eminent domain," i.e. expropriation by judicial fiat.
Messrs. Posner and Weyl propose a more elegant solution: require all property owners to name the price at which they would sell. Their taxes would then be based on that price. If you really value your property more than anyone else, you can keep it out of others' hands by raising your assessed price and paying more tax. In fact, they argue such a self-assessed tax on all forms of property could replace property and corporate taxes and generate more revenue and economic growth.
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