Comment economics and thermodynamics (Score 1) 175
This reminds me of questions I've pondered regarding high-frequency trading (HFT). In that case, a genuine economic output (i.e. money) is created purely from analysis of momentary gradients between valuations. It seems to be creating something from nothing. Mustn't economic value come from some real-world value, like the production of food from earth, sun, air, and water?
In the case of HFT, a possible answer is that the analysis of the gradients does produce a real thing. The analysis produces a power of leverage, which is real. It's like generating power from tidal forces. (Hmm, on second thought, tidal power is ultimately dissipating the rotational momentum of the earth. Maybe HFT is after all simply dissipating genuine value.)
But in the case of a game that produces an artificial economy, where is the real value? Isn't there some kind of economic thermodynamic law, that says you can't sustain an economic output without producing something of value? Is there some economic energy being dissipated by this game's economy?
In this case, I guess one answer could be that entertainment is a genuine first-class value in the real world, even if it consumes power and labor, and produces no (other) artifact of biological value.