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
While studying psychology in West Lafayette, Indiana, Sarah wondered whether it’s correct to speak of a treatment’s efficacy or its effectiveness. Usually, in research and professional settings, efficacy describes how well a treatment works under...
The expression to run the traps means “to perform due diligence” or “solicit a wide variety of opinions” or “investigate every angle thoroughly.” This metaphor derives from the literal sense of running the traps, which refers to hunting and fishing...