EVE Online economist sees real world parallels

EVE is possibly the best MMO to follow to match current economic structures. Monetary inflation is surprisingly small since the game doesn't really allow anyone to get fabulously wealthy without interacting with other players. It has a strongly functioning market mechanism and even is able to create local marketplaces. With the effective lack of a regulatory system and entity that is able to conjure up money out of nothing, it's remarkably close to a Chicago school economic ideal and very close to an Austian system.

The game has gone for 6 years and there hasn't been any evidence of hyper-inflation that plagues other MMOs nor is there any indication of asset bubbles or broad scale market crashes. EVE probably should be studied for a longer period of time because political leaders around the world may be able to learn something. Iceland's economy boomed and crashed, yet the system developed by a game company has remained surprisingly stable.

Eve Online because it has such an amazing virtual market has IMO one of the most involved and valuable "crafting" systems - though you call it in Eve "manufacturing." The powerful part about Eve "crafting" is almost every item you build has value, not only for your own use or the corporation/alliance you may belong too - but also value if you wish to place the item you craft on the market.

In other MMOs I have played, I often find myself crafting items that I cannot resell or cannot use because my tune is just too high ranked. Much of the crafted items are useless, and the market in other MMOs I have played hardly compares to the sense of realism one gets from the Eve Online market.

Eve Online also promises in the next expansion new planetary interaction, thus additional "manufacturing" capabilities on all the planets in Eve. And with the DUST 514 FPS MMO coming out that will operate on these planets - life as an Eve MMO'r will be VERY INTERESTING.

SOLODRAKBANSOLODRAKBANSO

Who can resist loving such unforgettable alliance names. And with ccp having stated that they such alliance names are allowed, who knows what other gems the dedicated eve players are capable of.

QWERTYQWERTYQWERTYQWER?

No chance, no comparison, and only in your dreams. Another joke comparison among many about EVE verse the "real world" The only comparison you can make about this game is the real life fraud element.

I am seeing more Dr's trying to get noticed with crap like this, and more cracker jack boxes in circulation.

More Chicago/Ayn Randian crazy talk.

We do have this economic paradigm at work right now. And guess what...it does not work. It is causing a meltdown far worse than the Great Depression of the 30's.

We have banking cartels/manufacturing/tech/health companies that push their infrastructure out of industrialized countries to poor countries in order to take advantage of both. All of us peasants will have the last laugh when China et al nationalize this infrastructure and take it from the Ayn freaks.

We have banking cartels printing money out of nothing and giving themselves zero interest while sticking the public with ridiculous banking fees. Plus they are assiduously moving their personal bank debt to the public coffers.

This is a failure any way you look at it. I'd rather it be just a fantasy in a fantasy game. Because experiencing it in real life is nothing short of horrific.

Now all we have left to do is wait for the revolutions, guillotines and incoming fascist takeovers.

Way to READ the actual article

But the harsh realities of space commerce have not lead Dr Gudmundsson to embrace Eve style laissez-faire economics in the real world.

"It has sharpened my view on neoclassical economics, at the same time I do see the faults of that system. Personally I am very fond of the Scandinavian model, a good combination of healthy competition whereas the government helps those in need."

--Rev

To be fair, it is spreadsheets OF blueprints (and what they can make) that get their players all hot and bothered.

Not the blueprints themselves.