Futarchy: Vote Values, But Bet Beliefs


	Futarchy: Vote Values, But Bet Beliefs

wildcat

1-23-2008 10:32 AM

434 views

tags:

government, betting, values, society, market, policies

wildcat says:

an interesting take on the concept

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/937f47d2-dfd2-452d-8cdb-b5c2930ba63b/098CCD9B-6A19-4605-8FD9-EBCAD89AC820/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://hanson.gmu.edu/futarchy.html" href="http://hanson.gmu.edu/futarchy.html" style="font-size: 11px;">hanson.gmu.edu</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://hanson.gmu.edu/futarchy.html"><I>This short "manifesto" describes a new form of government.  In "futarchy," we would vote on values, but bet on beliefs.  Elected representatives would formally define and manage an after-the-fact measurement of national welfare, while market speculators would say which policies they expect to raise national welfare.  
</I></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://hanson.gmu.edu/futarchy.html"><P>
Futarchy seems promising if we accept the following three assumptions:  
</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://hanson.gmu.edu/futarchy.html"><li style="margin-left:16px;padding-left: 0px;">Democracies fail largely by not aggregating available information.
</LI></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://hanson.gmu.edu/futarchy.html"><li style="margin-left:16px;padding-left: 0px;">It is not that hard to tell rich happy nations from poor miserable ones.
</LI></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://hanson.gmu.edu/futarchy.html"><li style="margin-left:16px;padding-left: 0px;">Betting markets are our best known institution for aggregating information.
</LI></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://hanson.gmu.edu/futarchy.html"><P>
For a more detailed and academic discussion of futarchy, see <A href="http://hanson.gmu.edu//futarchy.pdf">"Shall We Vote on Values, But Bet on Beliefs?"</A>. (That is a .pdf version; there is also a <A href="http://hanson.gmu.edu//futarchy.ps">.ps</A> version.)</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/098CCD9B-6A19-4605-8FD9-EBCAD89AC820/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>