[pdonis]

There is also the issue of manipulation of the betting market, which I've already mentioned. I still think this would be worse under futarchy as well, because it eliminates the middleman, as I said before.

But also, the vote on the measure of national welfare would be just as susceptible to manipulation as votes for elected representatives are under our current system, because voters would still face the rational ignorance issue: even if we assume, for the sake of argument, that it is possible to find a single measure of national welfare, it simply would not be a net benefit to most voters to learn enough about the various aspects of national welfare to be able to cast an informed vote on what would be the best measure of national welfare. So most people's votes would be determined the way most people's votes are determined now.