Futarchy

Futarchy is a form of government 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 as a buzzword of 2008. The idea has been subsequently expanded to explore its potential in the context of blockchains and the decentralized autonomous organization (DAO). The term "futarchy" is a portmanteau of "future" and "anarchy," reflecting its use of market predictions to guide decision-making without traditional hierarchical authority.

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