Over on the Whuffie blog (yes, there is such a thing; no, I did not have anything to do with it; and yes, I am immensely flattered), there's a guest-blogger writing good, scholarly critical analysis of the economics of the Bitchun Society, the world in which my novel is set.
The danger, pointed out in this passage from Doctorow's novel, in having a completely subjective, reputation-based economy is that it is quite possible for someone like me to be made an outsider from the economy due to actions for which I had no responsibility. Granted, similar problems exist in a cash-based economy. The market could bottom out, as we all certainly know, and I could be left with stock in… nothing. Still, there are objective factors, along with the subjective ones that move the market, that justify such occurrences. With a reputation economy, the threat of being ostracized unfairly is very real, and very much free from the protections of objectivity. Thus, this points to a problem with such a system. I do not think it is a problem that would defeat the system, as a general concept, but it is one that may justify eschewing it as a device for commerce.
The subjective nature of reputation is an interesting issue that goes beyond Herodotus. It is one that troubles modern politicians and entertainers, sometimes rightly, and sometimes wrongly. It's for this reason that I think X's website, and Doctorow's novel, are such interesting topics of discussion. Reputation is a matter that merits consideration, because it is a value that, subjectively, has massive impact on our life — and on the lives of the ancients.
He makes a good point. The problem (OK, a problem) with Whuffie is that it lacks a lot of the critical stuff that makes up the fundamentals of democratic infrastructure, like protection for minority opinions. Some of that is elided by the lack of scarcity in the novel: it's hard to be a well-and-truly oppressed minority when every material want is answered in plenty, but the social effect of the normative pressure of Whuffie is ultimately highly corrosive.
To put it more pithily: "Popular speech never needs defending." Free speech shouldn't be a popularity contest.
