Futarchy
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Futarchy is a form of government based on prediction markets, with elected officials determining metrics to determine the effectiveness of proposed policies.[1]
Development
The concept was proposed in 1990 by Robin Hanson, who has provided "foresight updates" to clarify and refine the proposed system.
In 1991, Alexander Chislenko offered criticism[2], which Hanson replied to in Foresight Update 11, affirming the need for some degree of mediation and additional governing structures to prevent abuse of the system.[3]
Futarchy was named a 'buzzword of 2008' by The New York Times.[4]
External Links
References
- ↑ Futarchy: Vote Values, But Bet Beliefs
- ↑ The Foresight Market and research funding
- ↑ More Market-Based Foresight
- ↑ Mark Leibovich, Grant Barrett "The Buzzwords of 2008". The New York Times Week in Review, 2008-12-21