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That Time a Video Game had an Economy Almost as Strong as Russia

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Published on Apr 1, 2019

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In this video:

In late 2001 an economist called Edward Castronova made tsunami sized waves in the world of economics when he published a paper claiming that an isolated place called Norrath had a currency stronger than that of the Japanese Yen- an especially bold claim considering Norrath had less than a million inhabitants, had only existed for about two years and didn’t exist physically. Yes, Norrath was entirely virtual and populated exclusively by players of the video game EverQuest.

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Sources:

https://books.google.co.uk/books?id=n...
http://www.slate.com/articles/busines...
https://poseidon01.ssrn.com/delivery....
http://news.bbc.co.uk/1/hi/sci/tech/1...
https://books.google.co.uk/books?id=Q...
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https://books.google.co.uk/books?id=r...
https://books.google.co.uk/books?id=L...
https://en.wikipedia.org/wiki/Virtual...
https://en.wikipedia.org/wiki/EverQuest
https://psmag.com/economics/the-real-...
https://www.theregister.co.uk/2001/02...
https://thewalrus.ca/game-theories/
https://www.policygenius.com/blog/wor...
https://www.washingtonpost.com/news/w...
https://www.citylab.com/life/2014/09/...

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