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Showing posts from April, 2019

Minecraft Economics: How the Nether Update uses the Subjective Theory of Value

What is an emerald worth in Minecraft?


An emerald is the currency used in the popular game Minecraft for trading with NPCs called villagers and wandering traders. Emerald ore is an extremely rare resource in the sandbox world, yet every employed villager has quite a few to trade with the player. However, players have wondered how the emerald compares with real world currency. One YouTube Video by GameTheory tried to find this answer. First, they tried to convert it by comparing the USD cost of bread with the cost of bread in the game, but found that conversion does not translate to other goods. Next they used the labor theory of value to try to determine the USD to emerald conversion, but again came up with a nonsensical conversion. Finally, they tried to assume emeralds have an inherent value in real life and work backwards to determine the in-game USD cost. After using all of these methods, they come to the accurate conclusion that it's not really possible to convert emeralds i…

The Power of the Good Neighbor

The individualistic thought world; breaking down groups and geographical areas into smaller and smaller components until you hit the fundamental building block of society - The single person - and from there, zoom out and see families, neighborhoods, parts of the city, larger metropolitan areas, the nation and beyond. 

In theory, when you take the individualistic view its easier to hone in on the elements you want to surround yourself with and expose your family to. Connect with like-minded people and create a positive atmosphere for growth and prosperity, whatever your values might be. The advantages to surround yourself with like-minded individuals is especially important for any aspiring Gray-marketeers (Agorists) that seeks to dodge any government rules and regulations.

But, when we look on a modern city-state of today you would have to get over many hurdles to design a "perfect" neighborhood consisting of people with an as-close-as-possible view of culturally accepted b…