Marketcraft: How Governments Make Markets Work

Modern-day markets do not arise spontaneously or evolve naturally. Rather they are crafted by individuals, firms, and most of all, by governments. Thus "marketcraft" represents a core function of government comparable to statecraft and requires considerable artistry to govern markets effectively. Just as real-world statecraft can be masterful or muddled, so it is with marketcraft.

In Marketcraft, Steven Vogel builds his argument upon the recognition that all markets are crafted then systema...