Futarchy

Futarchy is a form of government proposed by economist Robin Hanson, in which elected officials define measures of national wellbeing, and prediction markets are used to determine which policies will have the most positive effect.[1]

It was named by The New York Times as a buzzword of 2008.[2]

Criticisms

Economist Tyler Cowen said

"I would bet against the future of futarchy, or its likelihood of succeeding were it in place. Robin says 'vote on values, bet on beliefs', but I don't think values and beliefs can be so easily separated."[3]

Notes

  1. ↑ Hanson, Robin. "Shall we vote on values, but bet on beliefs?". CiteSeerX 10.1.1.71.8309. Missing or empty |url= (help); |access-date= requires |url= (help)
  2. ↑ Leibovich, Mark; Barrett, Grant (2008-12-21). "The Buzzwords of 2008". Week in Review. The New York Times. Retrieved 2010-07-23.
  3. ↑ Cowen, Tyler (2007-08-04). "Where do I disagree with Robin Hanson?". Marginal Revolution. Retrieved 2010-07-23.
  • Hanson, Robin (August 2000). "Futarchy: Vote values, but bet beliefs". Retrieved 2012-02-20.
  • Gelman, Andrew (November 21, 2005). "Questions about Futarchy". Statistical Modeling, Causal Inference, and Social Science (blog). Retrieved 2012-02-20.
  • Quaggioto, Giulio (2008-04-18). "Futarchy: buzzword or viable option?". Private Sector Development Blog. World Bank. Retrieved 2012-02-20.
  • Varian, Hal R. (May 8, 2003). "A Market Approach to Politics". The New York Times.
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