Games are a luxury after all...

A lot of conversation has been made in the last couple of years over how in-game economies can affect real economies. For example, it's spawned two new industries - game subscriptions and gold farming from which people make their livings. But now that the economy in real life has slowed down significantly, the question is arising how that will affect in-game economies.

Between Dan Hunter at the Terra Nova blog and the blog's readers, an interesting conversation is shaping up on the subject. Terra Nova being an EVE Online blog, many of the examples are EVE-based.

My question -- and do forward it along -- is: What now for virtual economies? What happens to Eve now that Iceland's economy is collapsing?

Long ago, I asked in a Terra Nova link-mail, what influence (or lack of it) Eve had on the value of the ISK. That was when I thought Terra Nova was a hip economist hangout. Nobody wants to identify themself as an economist anymore, so I suppose you are all social scientists. Okay. What now? Will my WoW gold be worth more or less? Will games go under taking their value with them? Will we see a run on games the same as a run on banks?

Not nearly all those questions get answered, but it's a very interesting read nonetheless.

For the blog article, please check the Terra Nova blog.