Yuck! and the long journey to a book title

 

As I mentioned in yesterday's post, I'm working on the galleys of my forthcoming book, Moral Economics. This has reminded me of the long journey to a book title.

 

For one thing, the British title isn't exactly  the same as the American title--they have different subtitles. British readers will have to open the book to discover that prostitution and organ sales are among the topics covered, while American readers can see this on the cover.

 

  

My original, working title was "Controversial Markets and Repugnant  Transactions," based in part on my 2007 article  "Repugnance as a Constraint on Markets".  But I soon realized that when non-economists heard me mention that a transaction was repugnant, they thought I meant that I didn't like it and that they shouldn't either, when what I did mean was merely that some people object to it, often on moral grounds.

So for a while my working title became "Controversial Markets and Morally Contested Transactions." 

That's descriptive, but clunky.  So I didn't resist too much when my publisher suggested "Moral Economics," although I worried that was too cryptic, so a sub-title would be needed.

And all of this is stored in a folder with the title "Yuck" that I opened on my hard drive when I first started to think about writing a book on repugnant transactions. 

New book! Moral Economics: From Prostitution to Organ Sales, What Controversial Transactions Reveal About How Markets Work--forthcoming!

 

 I have a forthcoming book, (at long last) and it now even has a cover. (Note the halo:)  I'm reading the galleys right now...

 

Moral Economics: From Prostitution to Organ Sales, What Controversial Transactions Reveal About How Markets Work    forthcoming – May 12, 2026

also available to preorder at other fine bookstores. (I'll be happy to autograph pre-orders that are mailed to me, btw...)

 

"A Nobel Prize–⁠winning economist shows us why we have to deal in trade-offs when we can’t agree on what’s right and what’s wrong

"Some of the most intractable controversies in our divided society are, at bottom, about what actions and transactions should be banned. Should women and couples be able to purchase contraception, access in vitro fertilization, and end pregnancy by obtaining an abortion? Should people be able to buy marijuana? What about fentanyl? Can someone be paid to donate blood plasma, or a kidney?

"Disagreements are fierce because arguments on both sides are often made in uncompromising moral or religious terms. But in Moral Economics, Nobel Prize–winning economist Alvin E. Roth asserts that we can make progress on these and other difficult topics if we view them as markets—tools to help decide who gets what—and understand how those markets can be fine-tuned to be more functional. Markets don’t have to allow everything or ban everything. Prudent market design can find a balance between preserving people’s rights to pursue their own interests and protecting the most vulnerable from harm.

"Combining Roth’s unparalleled expertise as market design pioneer with his incisive, witty accounts of complicated issues, Moral Economics offers a powerful and innovative new framework for resolving today’s hardest controversies. "

 

Notes from Messina (kidney exchange and the Accademia Peloritana dei Pericolanti)

 We traveled last week from Prague to Sicily, for the Matching in Practice workshop in  Messina, which was rich in kidney exchange. I was glad to reconnect with the Director of the National Transplant organization, Dr. Giuseppe Feltrin, and with Professors Antonio Nicolò and Antonio Miralles.

But a funny thing happened first, at the University of Messina. I was inducted into the university's Accademia Peloritana dei Pericolanti, founded in the early 1700's, at a time when autocrats didn't look fondly on universities (imagine that!). The symbol of the Academy is a ship sailing in the Strait of Messina (between Scylla and Charybdis) with the motto "Inter utramque viam periclitantes," "Taking risks between both paths," reflecting (I was told) the perils of navigating the strait between scholarship and politics.  It seemed very appropriate for the times.

Here's the story in the local news: with a picture:

 

Notes from Prague (kidney exchange, market design, and progress on a new book)

I flew back to California yesterday, after spending some time in Czechia and Italy talking about kidney exchange.  Here is a video of the public talk I gave at Prague Castle.  Among other things it highlights the Czech kidney exchanges with Israel. (I had the pleasure of meeting  Prof. Jiri Fronek, the distinguished surgical pioneer who led the Czech side of that effort.)

https://youtu.be/jrrlNWMkQyE?feature=shared

I also had the privilege of visiting CERGE-EI  (Center for Economic Research and Graduate Education - Economics Institute) where my host was Prof  Štěpán Jurajda.  He and I first met when we were both at the University of Pittsburgh in the 1990s.

And here's an interview with the Economic newspaper  Hospodářské noviny  that starts off with the optimistic notion that I may have just (largely) completed the draft of a new book:)

Zkoumá trhy, kde peníze nevládnou. Ledvinu ani lásku si za ně většinou nekoupíte, říká nobelista Alvin Roth [ He explores markets where money doesn't rule. You can't usually buy a kidney or love with it, says Nobel laureate Alvin Roth]

“Before flying from the USA to Prague, economist and Nobel laureate Alvin Roth managed to send the publisher a draft of his new book, which he is currently finishing. He calls it Controversial Markets. Between an afternoon lecture for students at the CERGE-EI Institute in Prague and an evening lecture at Prague Castle, he also found time for an interview with Hospodářské noviny, in which he outlines what his new book will be about. One of the controversial markets he deals with, for example, is the organ transplant market."