In a recent paper titled, "Ethereum Platform Review: Opportunities and Challenges for Private and Consortium Blockchains" by Vitalik Buterin, he mentions the notion of public economic consensus.
Can anyone help explain the definition of this term / notion and how it differs from something like public goods and common resources within economics? Is it synonymous with the idea of Proof of Work / Proof of Stake or is it different?
The paragraph it comes from is here:
The Ethereum platform was originally conceived in November 2013 with the goal of creating a more generalized blockchain platform, combining together the notion of public economic consensus via proof of work (or eventually proof of stake) with the abstraction power of a stateful Turing-complete virtual machine in order to allow application developers to much more easily create applications that benefit from the decentralization and security properties of blockchains, and particularly avoid the need to create a new blockchain for each new application.
I am just looking for a better understanding of this concept and any reference / source material you can point me towards.