pull down to refresh

19 sats \ 0 replies \ @Rothbardian_fanatic 7h \ on: Why prediction markets aren’t popular oracle
Or perhaps, as Caplan’s colleague Robin Hanson proposed, we could design the structure of our government around the results of prediction markets. Right now, voters vote based on a combination of their empirical beliefs about how the world works and the moral values of political candidates. Instead, argues Hanson, we could use prediction markets to predict the outcomes of different policies and let people use these to vote on values grounds alone.
This one has been the subject of one of Frank Herbert’s books, The Dosadi Experiment. The results of the experiment were not pretty, in fact they were very horrible. One of the treatments in the experiment was to require the government to work on a democratic predictions market for all decisions by the populace. After reading the book several times, I wouldn’t wish this type of government on my worst enemy, because it is absolutely merciless on all aspects of running a populace, including Gates’ favorite depopulation.
write
preview