09 Mar Markets. Stockholders. Value.
The Free Market as a Universal Solution
“Capitalist markets are neural networks of human need, labour and multi-variable value, at scale.”
Current representative democratic models with their biannual or every-four-year elections end up lowest common denominator by default. Witness bullshit populism (woke symbols or ethnic conflict) dominating public narrative while the real issues are ignored – and therefore co-opted, abused, exploited by the big capital considerations of a few (almost always behind the scenes).
- Markets as Decision-Makers
- Markets as Competition of Values
- Disinterested educated voters/consumers?
- Worst instinct bovine voters/consumers?
Futarchy is govt by elected officials defining measures of national well-being then using prediction markets to determine most positive policies to enact.
2010 debate with Robin Hanson (economist) and Mencius Moldbug (computer scientist) about Futarchy and the fitness of markets as best mechanism for decision-making in society.
Hanson is trying to evolve democracy via market action to create a system where a vote reflects not only binary “this candidate” or “this proposition” but – by dint of diverse competitive market – relative value “this is very important” or “this doesn’t matter much”.
The Day Today
In 2002, Curtis Yarvin (Mencius Moldbug) founded Urbit platform. In 2019, he resigned from Tlon, the company he co-founded to manage and develop Urbit. Yarvin’s synopsis of the resignation can be read here.
Urbit is a decentralized blockchain platform designed to replace the client-server model – where data is held and served centrally (e.g. by Facebook, who gets access to all your private data) – with a decentralized peer-to-peer network of consistent self-owned digital identities operating in transient / voluntary federations.
- What is Urbit?
- Nock – Urbit low-level coding
- Hoon – Urbit high-level scripting lingo
Robin Hanson (born 1959) is an associate professor of economics at George Mason University and a research associate at the Future of Humanity Institute of Oxford University. He is known for his work on idea futures and markets, and he was involved in the creation of the Foresight Institute’s Foresight Exchange and DARPA’s FutureMAP project. He invented market scoring rules like LMSR (Logarithmic Market Scoring Rule) used by prediction markets such as Consensus Point (where Hanson is Chief Scientist), and has conducted research on signalling.
Curtis Yarvin (Mencius Moldbug, born 1973) is an American alt-right blogger. Yarvin is often associated with Nick Land’s Dark Enlightenment “neoreactionary” (or NRx) school of thought and from 2007 to 2014, he authored a blog called “Unqualified Reservations”, which argued that America as a democracy is a failed experiment and is in fact a corporatized monarchy. Central to Yarvin’s thesis is the failed potential of the bovine population resulting in democracy inevitably becoming a form of totalitarianism against individual liberty. Yarvin’s position is often (wilfully) mischaracterized as anti-egalitarian and anti-democratic i.e. cruel and unjust. Yarvin’s ideas have been particularly influential among radical libertarians, and the public discourses of prominent investors like Thiel have echoed Yarvin’s project of seceding from the US to establish tech-CEO dictatorships.