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RE: Looking forward to communities, back at socks
The greatest weakness of the platform is that it has a common resource: the reward pool. To prevent some people from abusing it requires constant policing.
It is the case in all aspects of economic life, most of it is hidden away behind government and banking actions though - and they are "self-policing" for the most part.
Not every economic activity or circumstance involves a common pool of resources. And when one exists, there exist laws to prevent abuse. The police, the judicial and the penal systems deal with abuses. There is nothing like that on Steem.
The main difference between Steem and they way the economy is organized is that Steem isn't a hierarchical organization where everyone has well-defined responsibilities and where there is a chain of command. There is no such thing here at all. It's a free for all where whatever order exists does so because it has emerged through spontaneous processes not guided by anyone. It's all about individuals responding to incentives. The Steem user community, if you can call it that, is not an organization of any kind. Governments are all about rules and regulations and banks themselves are corporations governed in a top down hierarchical fashion. They operate in a regulated space.
None of the policing done by the likes of @ocdb or @steemflagrewards has any official status whatsover. No single body, elected or not, set them up to do what they do. Delegators to them can pull their delegations to them at any moment or increase their delegations. Everything is based on voluntary interactions between individuals.
That is not the case in the ordinary economy either, otherwise 2008 wouldn't have happened. Having laws doesn't mean they are abided by, people act on incentive always.
2008 wasn't a tradegy of the commons. Reward pool abuse on Steem is. Code is law and it is the only law on Steem.