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The MyYearbook Economy; an article about economics

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Anonymous Coward
User ID: 794866
10/27/2009 12:05 PM
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The MyYearbook Economy; an article about economics

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I just posted this on the myyearbook website. it may help some people to understand, and learn about the Fed and its effect on the economy:

I wanted to point out a few things I have seen with myyearbook and how it can show some effects in a real economy.

The economy here is based on "Lunch Money" we will call it L$. Each user has an amount of L4 that is earned from playing games, posting, selling pictures, and other various tasks. You also are able to spend this money on items such as gifts, hugs, extra chances on match, and other things. So here on the site we have a very basic economy; there are items to buy and methods to make more L$.

One of the things I have noticed in the last few months is some economic effects caused by site changes. I will be looking at a couple; Inflation and Deflation. Both of these happen in the real world for various reasons and have happened on here.

First a look at inflation. "in inflation everything gets more valuable except money." What has happened on myyearbook is that they injected more L$ into the system by giving it in larger amounts for completing certain advertisement offers, and also in some cases for free. (much like the federal reserve) So now all users have much more L$ available to them to spend. This has 'inflated' the price tremendously on the "Owned" section where you buy pictures. Photos that once were 1-3K now go easily into the millions.

The influx of L$ has had an opposite effect with other items; High 5's, Flirts, Gold Stars, Stickers, and other gifts. All of these have a set price from the site. Since people now have more L$ they purchase many more of these items for people. Now that everyone can have hundreds of gifts they are not that valuable to the person. This is an act of "Deflation"

In both cases the cause was the injection of large amounts of L$ into the economy. There are other similar things within the site, as well as the real world economy. When you allow a central bank to control the flow of money you actually allow them to set the price of goods. I suggest each of you read about the Federal Reserve and how they are the true cause of the bad economy by their actions.

Anonymous Coward
User ID: 794866 (OP)
10/27/2009 12:19 PM

Re: The MyYearbook Economy; an article about economics	Quote
Thoughts??

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