We have seen the future, and it sucks.

Futarchy considered retarded

30th May 2009

The inimitable Mencius Moldbug does it again.

The 21st-century American university is a pathologist’s dream.

Academia is a guild of talented and ambitious professionals who, by demonstrating their large and dextrous brains – not to mention their impeccable networking skills, and their infinite patience with the brown product of the cow – extract money, power, and/or status from USG. Need more be said?

Basically, the summary is this: prediction markets are a fine idea, whereas decision markets are… well… retarded.

I was going to use Dijkstra’s wonderful coinage, considered harmful, but on reflecting I feel that decision markets are too retarded to qualify as harmful. Communism is harmful. Maturity transformation is harmful. Futarchy is retarded.

Robin Hanson’s response is here.

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