futarchy
 n.— «Robin D. Hanson, an economist at George Mason University, proposes a “futarchy,” a form of government enhanced by prediction markets. Voters would decide broad goals of national welfare, but betting in speculative markets would determine the policy steps to achieve those goals.» —“Betting to Improve the Odds” by Steve Lohr New York Times Apr. 9, 2008. (source: Double-Tongued Dictionary)

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