What would the future be like if there were no more private capital?

Cory Doctorow envisioned it in his downloadable novel Down and Out in the Magic Kingdom, wherein social capital replaced cash as a unit of currency. He calls it Whuffie (sounds like Wafu in a current Filipino swardspeak). Cory talks more about it in an interview with Lisa Rein.

I wonder how politicians would behave in that Magic Kingdom.

Keyword: reputation-based economy