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)
Further reading
Stacy from Marquette, Michigan, says her German-born grandfather would warn that she was going to get a putsch or potch, meaning a “a gentle slap” on her bottom, if she misbehaved. The German verb Patsch means “slap.” The...
Where would you find a sports commentator talking about high cheese and ducks on a pond? Here’s a hint: both terms are part of what makes America’s pastime so colorful. • A government official in New Zealand proposes a new, more...