Steemit concept was roughly theorized in the 1800s by Silvio Gesell
Regarding the upcoming fork and talk about inflation and anti-hoarding (liquidity) policy talk here on Steemit, there is a little-known economist that successfully overcame both issues in the 1930s. Before cryptocurrency even existed, I was fascinated with alternative currencies, and eventually stumbled across his work.
Silvio Gesell was a theoretical economist / anarchist that in the late 1800s devised a theory of deflationary money (demurrage) that he hoped all people could prosper from. This theoretical concept came to life, and was applied during the depression in a small Austrian town called Worgl. It was so successful that the Austrian Central Bank enforced its monopoly position as central authority and shut it down after just over 1 year, because 200+ townships also petitioned for it. It was remembered as "The Worgl Experiment".
Silvio Gesell's economic theory is very much aligned (at 1st glance) to the spirit and purpose of Steemit. Essentially, that "free-money" built into a proper system, coupled with the self-interest of the natural order, would serve the prosperity of the whole. In turn, this economy would suppress privilege of the few, and turn it over to the less-fortunate many that would immediately use it.
For all intents and purposes, Steem as a monetary unit could actually be called a 'Silvio,' or a 'Gesell.'
The Natural Economic Order: http://www.geokey.de/literatur/doc/neo.pdf
The Worgl Experiment: http://www.lietaer.com/2010/03/the-worgl-experiment/
Silvio Gesell: https://en.wikipedia.org/wiki/Silvio_Gesell
This is an interesting read. I'm gonna have to read more about the Worgl Experiment later today. Thanks for posting!
Yeah, really fascinating man. He was definitely a brilliant mathematician and theorist.