3 posts tagged with economics by orthogonality.
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"...And all for the want of a horseshoe nail."

Picture a three-guy trading floor. They would call a carrier,... [and] manually move trunks in and out of route by issuing SQL commands against the Veraz's Oracle database.... Let me write that out for you: One ass-hat residential customer with a 20yo telephone with four extra buttons did thirty million dollars in damages in less than one night. Anyways, that's how the company went bankrupt... and about 6000 or so people ... all got laid off.
posted by orthogonality on Feb 9, 2009 - 97 comments

 

"To redeem the demand tickets they have written, the balancers must in turn sell dragonslayer tickets."

Nitroeconomics (if you want to sound more scientific you can call it synthetic economics) is different. It is set in the virtual world of Nitropia, which doesn't exist but easily could.... We can use nitroeconomics to understand real situations in the real world, such as the subprime crisis, with a simple three-step process.... The first cool thing about Nitropia is that it has no financial system at all. Unlike other, inferior virtual economies, it does not distinguish between "money" and other virtual objects. A monetary token in Nitropia is an object like any other - a magic sword, an inflatable penis, or whatever. A player in Nitropia who has a lot of money just owns a lot of these tokens. There is no special, separate "bank balance."
A[n Austrian-school] straightforward explanation of the present financial crisis (part 1) [more inside]
posted by orthogonality on Jan 17, 2008 - 28 comments

The wages of sin... are fabulous!

High salaries and rising property values in Sodom and Gommorah? There Goes the Neighborhood: How and Why Bohemians, Artists and Gays Effect Regional Housing Values.
posted by orthogonality on Jun 23, 2007 - 38 comments

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