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Not much :-/

Governance:

late 14c., "act or manner of governing," from Old French governance "government, rule, administration; (rule of) conduct" (Modern French gouvernance), from governer "to govern, rule, command" (see govern). Fowler writes that the word "has now the dignity of incipient archaism," but it might continue useful in its original sense as government comes to mean primarily "the governing power in a state."

Government:

late 14c., "act of governing or ruling;" 1550s, "system by which a thing is governed" (especially a state), from Old French governement "control, direction, administration" (Modern French gouvernement), from governer "to govern" (see govern). Meaning "governing power" in a given place is from 1702. Compare governance.

So how does a business operate without governance? Or Steemit?

Yes, governance means rules, government means rulers. Rules are fine as long as we are agreeing to them voluntarily, rulers are also fine if we agree to them voluntarily. For example, there are rules and rulers (government and governance) on steemit. But both are fine because we can choose to be here and be governed by these rules and rulers.

How does this work when I am born into a State with preexisting rules and governance? I have no real choice. My "choice" is to accept that governance or go somewhere else. Governments typically last longer than a lifetime and the consent to govern could be many generations old.

That is the primary argument against our current governments. They force you to be governed just because you were born into their borders. Hopefully someday we can work to a point where we don't need coercive governments anymore and all our "rulers" will be chosen by ourselves voluntarily.

But we are always born into the existing set of rules whether those of a centralized government or a small tribe of hunter gatherers. There may have been a time when a person could leave their tribe and strike out alone, but that time is long gone. And even then, joining a new tribe would have required consent to their rules.

Yeah, I don't know what the answer is, or if it is even possible but that is what I believe is the morally correct way to have a government. @bitnation might be a step in the right direction though.