Futarchy

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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] The idea of futarchy was later proposed in the context of blockchains and the DAO.^[3]

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.^[4]

• Hanson, Robin (August 2000). "Futarchy: Vote values, but bet beliefs". Retrieved 2012-02-20.
• Varian, Hal R. (May 8, 2003). "A Market Approach to Politics". The New York Times.
• Gelman, Andrew (November 21, 2005). "Questions about Futarchy". Statistical Modeling, Causal Inference, and Social Science (blog). Retrieved 2012-02-20.
• Robin Hanson and "Mencius Moldbug" debate futarchy at Foresight Retrieved 2024-03-14.
• Buterin, Vitalik (August 2014). "An Introduction to Futarchy". Etherium Blog. Retrieved 2020-12-26.

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