virtual economies

Old news that I never digested from about a year ago.

At first I wondered, well what exactly is being produced in game economies that are of productive value? Then, I thought, wait, what is being produced in real economies that are of productive value? Especially the “service sector.” Lots of things can be dismissed as having no productive value, but as long as there is demand, there is value, and where there is value, there is an economy waiting to develop. I guess that’s the first lesson.

Secondly, there is no way Anshe Chung would have been as successful in the real world without the virtual world existing. Not only would she not have pursued some of the, erm, career opportunities, let’s say, nor would she have been given the kind of opportunities such as real estate “development” to amass the starting capital as easily — most opportunities in the real world have been taken or have strong players already firmly entrenched. It puts a new kink in the argument of work vs. luck in terms of financial (or general) success in life, and it highlights the fine boundary between obeying social constraints vs. giving up on risk taking.