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reputation economy

A system whereby a person's reputation is used to determine their economic advantages. It is hypothesized that humanity could move towards such a system when scarcity of resources is eliminated and most goods are available for free. In this situation, regular money becomes worthless and so a new system of value would need to be introduced.

Having a poor reputation would exclude you from certain actions, such as eating at a high-class restaurant, whereas having a great reputation would allow you to run businesses or travel the world. This incentivizes altruistic acts and is supposed to make the world a better place for all.

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  • Part of Speech: noun
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  • Industry/Domain: Economy
  • Category: Economics
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