Valve has an economist now

Economist Yanis Varoufakis was analyzing the financial crisis in Europe, focusing on Greece, when he got a proposal seemingly out of nowhere. Valve co-founder Gabe Newell saw similarities between the situation in Europe and Valve's troubles with its own virtual economies (for DOTA 2 and Team Fortress 2, presumably.)

"Here at my company we were discussing an issue of linking economies in two virtual environments (creating a shared currency), and wrestling with some of the thornier problems of balance of payments," Newell said in an email to Varoufakis, "when it occurred to me 'this is Germany and Greece', a thought that wouldn't have occurred to me without having followed your blog. Rather than continuing to run an emulator of you in my head, I thought I'd check to see if we couldn't get the real you interested in what we are doing."

Varoufakis stopped by Valve HQ during a speaking tour and became excited about the possibility of researching a digital, fully recordable economy. "Think of it," he said, "An economy where every action leaves a digital trail, every transaction is recorded; indeed, an economy where we do not need statistics since we have all the data!" And now he's writing a weekly blog called Valve Economics. Unless, of course, he decides to do something else.