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Showing posts from June, 2020

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…

That Bread is Mine, Too

Okay, so the State was smashed yesterday morning. Now what?

Obviously, everybody will go his/her own way and make oodles of gold. Some of it will be spent on protection agents and arbitration. And we shall be ever-vigilant against the return of the State!

But what are we going to do if someone wants his money back?


Such a question is far from academic, for one’s view of justice seems to determine one’s revolutionary tactics. Robert LeFevre, the anarcho-pacifist, pursues a purely educational route because he has foresworn the use of defensive restitutive force. What else can he do? Murray Rothbard, enamored with “temporary” political expedients, pursues popular fronts with rightists, then leftists, then partyarchs. With his “double restitution” or “restitution plus punishment” theory, he finds himself allied with the Penal Institution crowd regardless of other alliances.

Ayn Rand seeks unlimited restitution, and since infinity can only be achieved mystically she must resurrect a gover…

Riots are Inevitable, Not Justified

Beginning Note: I do not condone the riots against or the looting of private citizens or private property. This is not a defense, it is an attempt at an explanation.

Across US cities, there have been protests to call for reform of the police and legal system that is responsible for the brutal murders of George Floyd and Breonna Taylor. While the overwhelming majority of these have been peaceful events, much of the news coverage and government reaction has been in response to the rioting and looting that have become adjacent to the calls for justice.




Many are shocked at the almost complete breakdown of law in cities across the country. But these should not shock anyone. They are an inevitable product of our current legal system: a monopoly. The government and police claim to have a monopoly over the legitimate use of force, and when this monopoly is shown to be counterproductive to the preservation of law--that is the protection of person and private property--we can only expect chao…