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The Linden dollar - every bit as fake as the US dollar
Caleb Booker (better known as Onder Skall) reports on this week's Metanomics session in Second Life. For those of you who came in late, Metanomics (sponsored by our friends over at Metaversed.com) seeks to study how economies work (or sometimes don't work) in virtual worlds and MMOs, how they develop and how people interact with them. A virtual world economy is a capsule microcosm full of lessons about real economies.
Stretching the metaphor - the world and the economy
A metaphor is an analogy which is intended to assist in our understanding of something by indicating points of similarity between them. Our virtual worlds are all metaphors to one degree or another. Many artificial constructs are. The problem with metaphors is that they're generally not readily reversible, and it's far too easy to get caught up in them and stretch them far too far.
