Futarchy

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


Contents

[edit] GDP+

GDP+ is used to measure national welfare. It is a combination of Gross domestic product and quality of life.

[edit] 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."[1]

[edit] Opacity Problem

The opacity problem occurs when there is collusion between the bettors and the policy market creators.

[edit] External links

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