Quadratic voting


(Sam Lichtenstein) #1

Has anyone involved with the SI considered adopting Weyl-Lalley quadratic voting (https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2003531) as a corporate governance mechanism for the project in French Polynesia? It would be invaluable to have a pilot project experimenting with this type of voting system, if only to see how well it works in practice.


(.) #2

Welcome to the seasteading topics.
May I ask if you are interested in seasteading or in quadratic voting?
Both are interesting. I hope you write more.

Sincerely yours;
spark


(.) #3

Sam responded: “Yes. You are clearly a robot.”


(.) #4

Thank you for sharing your opinion.


#5

@Sam_Lichtenstein I can assure you, Spark is not a robot.

So, basically, iiuc, Quadratic voting means those with the most money can buy the most voting power… Not a very good way to run a government, unless it is intended to be by the rich, for the rich, without the rest…


(David) #6

@JL_Frusha Although I understand your concern about equality, I’d encourage you to check out this paper to learn more about how the QV system works. The money is redistributed on a per capita basis after the votes are purchased, so QV often actually leads to more equality rather than less.

To take a simple example, suppose there are 101 individuals on an island. One individual (Fred) has $100 and the others only have $1 - a highly unequal arrangement! Suppose Fred wants to build a park by his house. All the islanders except Fred think this is a pretty bad idea and would like to vote against the proposal.

Under QV, the most votes that Fred can buy is 10. All the other islanders only need to purchase .1 votes for $0.01 to guarantee Fred’s proposal gets voted down (assume that in the event of a tie, the park does not get built).

But what if one of the islanders (George) isn’t willing to spend $0.01 to prevent Fred from building the park? Fred pays $100 to buy 10 votes in favor of the park, 99 islanders pay $0.01 to buy 9.9 votes against the park and Fred abstains. The park gets built, but Fred’s entire fortune gets redistributed to the other islanders. After the vote, Fred has $1, George has $2, and all the other islanders have $1.99 (one cent gets lost during the voting due to rounding).

In a pure democracy, Fred would never get to build his park even though he’s willing to trade his entire fortune to build it and the rest of the islanders aren’t willing to pay much to prevent it (tyranny of the majority). In a representative system, Fred might transfer some of his fortune to a politician to get the park built. But I doubt the corrupt politician would redistribute the money to the other islanders! QV’s is designed to help overcome these problems.


(Bill Noyb) #7

Really? This system equates distributing money with good governance? So everybody is happy because they now have twice as much money as before (except Fred) even though Fred gets to do something deeply unpopular.


Direct democracy on the blockchan
Direct democracy on the blockchan
(Chad Elwartowski) split this topic #8

12 posts were merged into an existing topic: Direct democracy on the blockchan