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From the Wikipedia:

"The study of the structuring or classification of folksonomy is termed folksontology. This branch of ontology deals with the intersection between highly structured taxonomies or hierarchies and loosely structured folksonomy, asking what best features can be taken by both for a system of classification. The strength of flat-tagging schemes is their ability to relate one item to others like it. Folksonomy allows large disparate groups of users to collaboratively label massive, dynamic information systems. The strength of taxonomies are their browsability: users can easily start from more generalized knowledge and target their queries towards more specific and detailed knowledge. Folksonomy looks to categorize tags and thus create browsable spaces of information that are easy to maintain and expand." (