18: How to Get Better Elites? | Robin Hanson & Richard Hanania

Robin Hanson is a professor of economics at George Mason University. He joins the podcast to talk about futarchy, a system in which people would vote on values, but bet on beliefs. The conversation touches on the nature of rationality, why firms don't actually maximize profits, why betting markets are better than other forms of prediction or expertise, regulatory and psychological barriers to adopting new technologies, and why the rise of "Davos Man" and a global culture might be bad for innovation. Hanson and Hanania close by discussing the prospects for making futarchy a reality, in the near and long term.