Good day all
This plan has a huge hole in it, but the desire is sound.
I don't know how to put this into words, but I will be back to work it out.
One problem comes in that this (Steem) is a cumulative system, you get more and more and more. So, in the future, the whale-content-producer has tons of "social capital" and the new plankton-content-producer has none. Then go forward in time and the plankton has become a minnow and whale a super-whale. There is only a level playing field at the introduction of this new number.
All good and popular content producers will have the highest levels of "social capital". Whatever number you set as "high" they will surpass it. It is what happens with accumulation algorithms.
Another problem is bot voting. Get 50 accounts all voting for you (by you) and you are an instant rock star... in your own little group, but those looking from the outside at the raw number see a rock star.
So, we will have to work out a system that allows for new people to join and feel that they are contributing from the get go. And we will have to deal with groups, where a certain Steemer has a lot of "social capital" over with this group, and another Steemer has a lot of "social capital" with that group, and their social capital may not have any bearing between the groups.
Else, this becomes a more intricate reputation score.
The solution to perpetually-increasing score is inflation. That currently exists and will be more clear after hyperinflation is removed. If you make no new contributions you lose ground at about 10% per year (in either system).