money

Alice and Bob are participants in an economy. Alice has a dollar. Alice gives the dollar to Bob. In Second Life terms, that’s a user-to-user transaction. Bob gives the dollar back to Alice. That’s another user-to-user transaction. Repeat this sequence four more times. Is Alice and Bob’s economy now worth ten dollars? Or is it still worth one dollar? Well, that … [Read more...] about Alice has a dollar. A virtual economic failure