Most of the posts this week I assume will be about virtual economics in terms of games. This is because virtual economics is becoming very prevalent in them. However, I am curious about virtual economics and the world. As technology increases as well as globalization having an economy right at our fingertips would be pretty spectacular. Some may argue that many aspects of our current economy are and they'd be right. But I mean a global economy, an economy that connects the world. So well in that we could purchase goods and services from around the world and from many different markets as individuals. This would allow for more efficient production by companies because it would be much easier for them to test the market. It would also allow the consumers to broaden their field of view and look far beyond their borders in search of the exact item they want our need. Not only could this economy connect different markets it could handle transactions and trade.
Increasing technology would allow for a restructured trade mechanism as well. Allowing faster less expensive exchange of goods between countries. This would increase a desire in consumers to purchase and trade items because they would not be sacrificing speed of retrieval. Not only could the trade mechanism be restructured, access to the market could as well. Not only could people with disposable income manipulate the economy, everyone could. With an influx of individuals into the market there would be a greater amount of currency in circulation. This currency would not need to be of a specific country either and could be a virtual currency that adapts to the changes in its parent currency and other recognized currencies around the world.
Perhaps an economy of the future lies a way off but not as far as some might think. The current system is starting to become outdated and is constantly trying to adapt to meet the market needs. At many times too it is failing to do so. Virtual economics in games might be on the verge of something really spectacular and I look forward to seeing where it goes.