About Radicalxchange foundation
Radicalxchange Foundation: Inspiring Radical Social Change through Mechanism Design
Radicalxchange Foundation is a community of activists, artists, entrepreneurs, and scholars who are committed to using mechanism design to inspire radical social change. The foundation was founded in 2018 by Glen Weyl and Eric Posner with the aim of creating a new economic system that is more equitable, democratic, and inclusive.
Mechanism design is a field of economics that studies how to design rules and incentives for social systems so that they achieve desirable outcomes. Radicalxchange Foundation believes that mechanism design can be used to create new economic systems that are more fair and just than the current ones.
The foundation's mission is to promote research, education, advocacy, and implementation of radical ideas in economics and governance. It aims to bring together people from different backgrounds who share a common vision of creating a better world through innovative ideas.
One of the key principles of Radicalxchange Foundation is quadratic voting (QV), which is a voting system designed to give people more voice in decision-making processes. QV allows individuals to express their preferences on multiple issues by allocating votes according to their intensity of preference rather than just one vote per person per issue. This way, people can express their opinions on issues they care about most without being drowned out by those who have less interest or knowledge about them.
Another principle promoted by Radicalxchange Foundation is data sovereignty (DS), which refers to the right of individuals or communities over their own data. DS aims at empowering individuals with control over their personal information while also promoting innovation through open access data sharing.
Radicalxchange Foundation has several ongoing projects aimed at implementing these principles into real-world applications. One such project is called "Harberger Tax," which proposes an alternative property tax system based on self-assessment valuations where owners pay taxes based on what they think their property's worth rather than market value assessments made by the government.
The foundation also hosts an annual conference called Radicalxchange, which brings together scholars, activists, and entrepreneurs to discuss innovative ideas in economics and governance. The conference features keynote speakers, panel discussions, workshops, and networking opportunities for attendees.
Radicalxchange Foundation is a unique organization that is challenging the status quo of traditional economic systems. Its commitment to using mechanism design to inspire radical social change is inspiring and has the potential to create a more equitable and just world.