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The economy
- Thread starter Howl
- Start date
Halequin
Wanderer
Re: The economy
It would be a whole new understanding of the Economics because most modern Econ are based with a Government straining the wheel of production (roughly). On UO its an absolute free market but, a strange thing that you find, there are very few 'large businesses'. Most 'businesses' are mom and pop businesses. There is no true employer to earn money from, unless you consider the employer and the Government the shard itself, which would mean that the entire UO economy is actually NOT a free market and is a world society completely controlled by one business.
So pick and choose how you want to describe the finer details.
Edit: By the way, I don't have much background in Econ other than the text books I have read.
It would be a whole new understanding of the Economics because most modern Econ are based with a Government straining the wheel of production (roughly). On UO its an absolute free market but, a strange thing that you find, there are very few 'large businesses'. Most 'businesses' are mom and pop businesses. There is no true employer to earn money from, unless you consider the employer and the Government the shard itself, which would mean that the entire UO economy is actually NOT a free market and is a world society completely controlled by one business.
So pick and choose how you want to describe the finer details.
Edit: By the way, I don't have much background in Econ other than the text books I have read.
Feersum Endjinn
Knight
Howl
Sorceror
Re: The economy
OMFG! Thanks!
I was gonna say before I went to this link, that my first observations are of the importance of fact that economic growth in UO is coupled with the limitless capacity for resource production (in sharp contrast with economics IRL), increasing only with play time and efficiency, that only a limited amount of accumulated capital is used to increase production, and that there is no class division and that everyone is basically 'self-employed' here, and although there is a tendency for the rate of profit to fall, there is a very limited range of 'stop-gaps' available to counter this as there is in real life, i.e. the exploitation of workers.
I just started reading about economics (in particular environmental economics) so the posts I make here may be error strewn with misunderstandings = )
Feersum Endjinn;763655 said:Try this.
FE
OMFG! Thanks!
I was gonna say before I went to this link, that my first observations are of the importance of fact that economic growth in UO is coupled with the limitless capacity for resource production (in sharp contrast with economics IRL), increasing only with play time and efficiency, that only a limited amount of accumulated capital is used to increase production, and that there is no class division and that everyone is basically 'self-employed' here, and although there is a tendency for the rate of profit to fall, there is a very limited range of 'stop-gaps' available to counter this as there is in real life, i.e. the exploitation of workers.
I just started reading about economics (in particular environmental economics) so the posts I make here may be error strewn with misunderstandings = )
Re: The economy
Look at the inflationary aspect though of gold. With inscription running nonstop on four instances with a good script on razor(or even the unmentionable ones) gold has gotten worthless to what it was just a few months ago.
You would need about 50% more as much gold now to buy the same basket of high end artifacts and items you could have purchased six months ago. That is some big inflation, can demise survive like that? Of course it is nothing like zimbabwe but as long as the free printing of gold goes on it might we may someday collapse. When gold becomes useless society turns back to the barter system.
Look at the inflationary aspect though of gold. With inscription running nonstop on four instances with a good script on razor(or even the unmentionable ones) gold has gotten worthless to what it was just a few months ago.
You would need about 50% more as much gold now to buy the same basket of high end artifacts and items you could have purchased six months ago. That is some big inflation, can demise survive like that? Of course it is nothing like zimbabwe but as long as the free printing of gold goes on it might we may someday collapse. When gold becomes useless society turns back to the barter system.
Howl
Sorceror
Re: The economy
There should be more purchasable on the server that would be adequate for lots of players wants but which not significantly enhance game-play!
Edit: I was wrong in my previous post, there is no tendency of the rate of profit to fall in UO like there is in real life.
There should be more purchasable on the server that would be adequate for lots of players wants but which not significantly enhance game-play!
Edit: I was wrong in my previous post, there is no tendency of the rate of profit to fall in UO like there is in real life.
dievas
Knight
Re: The economy
yea , i did some time ago , was drunk and borred , so was saying hi to eweryone
i am just fine, trying to change my IP but thats troublesome...
abouth the economy , it differs from real one alot , but main diferences are:
1) no goverment, that means no taxes and no limits.
2) no chance to do service bussines ( lets count gaun/champ/crafting as producing bussines even tho is based on luck alot )
3) no empoyers
things thats are comon with irl economy:
those basic in second post.
a gold inflation is a whole another topic , its inflating really slowlly , if lets say person with 1kkk worth of items would decide to sell them all off , he would deflate the gold greatlly(atleast for a short time)
same goes for all the items , lets take another situation for this time , lets say: you , vlado , jaceck , damian , would decide to fill house with ornys?
i would start from this , buying brsks , its most eazy price changing item , to change its price for 10% i had to buy 16 of them as i remember , lets imagine you 4 have 500m each , thats 2kkk , you could buy a 1000 brsks , imagine how that would affect theyr price , that would thatke pretty long time. it would also afect armor prices.
as a conclusion:
economy of uo demise its same as irl , just imagine a country with 50citicens with has no goverment and no contact with other world
its eazy afectible by rich persons or economic unions.
Howl;763709 said:
yea , i did some time ago , was drunk and borred , so was saying hi to eweryone
i am just fine, trying to change my IP but thats troublesome...
abouth the economy , it differs from real one alot , but main diferences are:
1) no goverment, that means no taxes and no limits.
2) no chance to do service bussines ( lets count gaun/champ/crafting as producing bussines even tho is based on luck alot )
3) no empoyers
things thats are comon with irl economy:
those basic in second post.
a gold inflation is a whole another topic , its inflating really slowlly , if lets say person with 1kkk worth of items would decide to sell them all off , he would deflate the gold greatlly(atleast for a short time)
same goes for all the items , lets take another situation for this time , lets say: you , vlado , jaceck , damian , would decide to fill house with ornys?
i would start from this , buying brsks , its most eazy price changing item , to change its price for 10% i had to buy 16 of them as i remember , lets imagine you 4 have 500m each , thats 2kkk , you could buy a 1000 brsks , imagine how that would affect theyr price , that would thatke pretty long time. it would also afect armor prices.
as a conclusion:
economy of uo demise its same as irl , just imagine a country with 50citicens with has no goverment and no contact with other world
its eazy afectible by rich persons or economic unions.
Howl
Sorceror
Re: The economy
your reflection on inflation and your own influence is interesting = )
i disagree with your main differences. i'd say that the largest difference is that the economy in uo exists within a limitless world, where as the real world's economy exists within a finite (and extremely complex) world. there's no such thing as a faucet in real life = P however, governments and taxes and private business are possibly transient factors.
your reflection on inflation and your own influence is interesting = )
i disagree with your main differences. i'd say that the largest difference is that the economy in uo exists within a limitless world, where as the real world's economy exists within a finite (and extremely complex) world. there's no such thing as a faucet in real life = P however, governments and taxes and private business are possibly transient factors.
Bama
Bug Huntress
Re: The economy
http://www.uodemise.com/forum/showpost.php?p=763739&postcount=1
Economics as seen through the eyes of a wannabe ban evader (ewader)
http://www.uodemise.com/forum/showthread.php?p=599236#post599236
http://www.uodemise.com/forum/showthread.php?t=120478
Also the ever (ewer) popular pc/sell/trade shields and nothing ever (ewer) happens
http://www.uodemise.com/forum/showthread.php?t=120613
http://www.uodemise.com/forum/showthread.php?t=133950
http://www.uodemise.com/forum/showthread.php?t=140056
The parts in bold want me to go run and hire this guy as soon as possible to work in my investment company how about you?dievas;763719 said:
http://www.uodemise.com/forum/showpost.php?p=763739&postcount=1
Economics as seen through the eyes of a wannabe ban evader (ewader)
http://www.uodemise.com/forum/showthread.php?p=599236#post599236
http://www.uodemise.com/forum/showthread.php?t=120478
Also the ever (ewer) popular pc/sell/trade shields and nothing ever (ewer) happens
http://www.uodemise.com/forum/showthread.php?t=120613
http://www.uodemise.com/forum/showthread.php?t=133950
http://www.uodemise.com/forum/showthread.php?t=140056