Futarchy is a form of
government
A government is the system or group of people governing an organized community, generally a state.
In the case of its broad associative definition, government normally consists of legislature, executive, and judiciary. Government is a ...
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.
It was named by ''
The New York Times
''The New York Times'' (''the Times'', ''NYT'', or the Gray Lady) is a daily newspaper based in New York City with a worldwide readership reported in 2020 to comprise a declining 840,000 paid print subscribers, and a growing 6 million paid ...
'' as a buzzword of 2008. The idea of futarchy was later introduced in the context of
blockchain
A blockchain is a type of distributed ledger technology (DLT) that consists of growing lists of records, called ''blocks'', that are securely linked together using cryptography. Each block contains a cryptographic hash of the previous block, a ...
s and
the DAO bringing it closer to an actual implementation.
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.[
]
References
External links
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Forms of government
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