Wealth inequality is even worse in reputation economies

Cory Doctorow on how reputation economies (like the rating system satirised in the Black Mirror episode Nosedive) have a series of undesirable effects.

…reputation is useless as a hedge against the real nightmare of a setup like Ebay: the long con. It doesn’t cost much, nor does it take much work, to build up sleeper identities on Ebay, fake storefronts that sell un­remarkable goods at reasonable prices, earning A+++ GREAT SELLER tickmarks, even for years, until one day, that account lists a bunch of high-value items on the service, pockets the buyers’ funds, and walks off.

Reputation works badly and fails badly – it’s a lose-lose situation all around.

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