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Reinventing the Bazaar: A Natural History of Markets

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Clear, insightful, and nondogmatic, this book gives us a new appreciation for one of our most ubiquitous institutions.

From the wild swings of the stock market to the online auctions of eBay to the unexpected twists of the world's post-Communist economies, markets have suddenly become quite visible. We now have occasion to ask, "What makes these institutions work? How important are they? How can we improve them?"

Taking us on a lively tour of a world we once took for granted, John McMillan of...