WaPo on Virtual Economies
Posted by Terra Nova [HTML][XML][PERM][FULL] on 1 October 2012, 10:01 am
Edward CastronovaNice article on virtual economies, this weekend in the Washington Post. I still wonder about the economy. Here we have the Fed moving into unprecedented degrees of stimulus, after almost four years of huge deficit spending. The textbooks say that our economy should be screaming along by now. In fact, the textbooks I studied in the 1990s all would have judged the current policies to be dangerous. If you push a machine hard for a long time, they said, you're going to break the machine. But this machine won't run. The government is doing everything in its power to make...

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