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Comment by Cthulhu_ | Hacker News Reader

Pretty good, but not complete because the money is gone in a game's sink, whereas in the economy it's more cyclic. In theory.

That said, video game economics are pretty fascinating. I love reading writeups on Eve Online economics. I play FFXIV myself which isn't as good as Eve when it comes to economy, but interesting in its own rights. I wish it had buy orders and the ability to buy individual items instead of whole stacks, lol.

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Not in all theory - Modern Monetary Theory[1] posits that if you control a mint, your money is effectively infinite and cannot be meaningfully increased. As such, some taxation truly does serve only as a money sink (but a necessary one that prevents runaway inflation in the face of government spending, as well as being a vehicle for incentivization).

[1] https://www.investopedia.com/modern-monetary-theory-mmt-4588...

I upvoted your comment for being high-value even though I think I disagree with the first half: “Chicago” / “Fama” strong-form EMH economics have had only a few brushes with reality, so N equals “not enough”, but I’m partial to the 100% of the time it’s been a disaster, the best example of which is almost certainly Scholes’ tenure at LTCM (and “When Genius Fails” is a a drop everything, call in sick and read today book), but even that is really just an exclamation point on the whole post-Reagan world, the criminally, well, crime of the Greenspan clique.

How a group of people can be wrong every time about everything in stated ambition while acting in ways completely consistent with Randian Objectivist Naziism in practical terms, and not be hounded out of public life bewilders me. There is probably no moment as simultaneously classist and misogynistic and stupid as when Brinksley Born got knee-capped for being right about everything by Summers, Greenspan, and Ruben with the Ghost of Future Reich (Ayn Rand) looming ominously in the background.

The people running the show around here, the “effective altruism” crowd like SBF and Altman and shit? They still put Atlas Shrugged icons in their Mastodon chats long after everyone without an agenda realized they’re the new version of old fascism.

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