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RE: Steemit is an Anarchistic Model We Can Develop and Bring to the Real World
Yes, a plutocracy. In real life, plutocratic societies are rife with poverty, illiteracy and disease. The 50 whales that rule over the krill would require an army and a secret police to hang on to power... and avoid being killed in a popular uprising.
85% of people in Steemit earn less that a dollar per post.
do the math