Jeffrey Tucker writes, "People tend to assume that oligarchies are anti-competitive and lead to unfairness or a less-than-desirable outcome. This is not always true, as the Digg case shows. When the system was being gamed by groups of geek oligarchies, it was much better. They competed with each other to push forward ever more interesting and smart and obscure stuff you would otherwise not see but for the super specialists driving them to the front page through various tactics. Now their work is discounted and we get "democratic" results that are generally dumbed down and mainstream and frankly uninteresting."
When Digg was Great - Mises Economics Blog
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