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Banking simulator throughout the years might be a good idea to educate people about the evolution of banking and why the Fed even exists.
by zitterbewegung 3y ago
Banking simulator throughout the years might be a good idea to educate people about the evolution of banking and why the Fed even exists.
- tmpz22 3y agoOops your bank is insolvent. Press "Bail out" to absolve yourself of all consequences.
- nine_k 3y agoYou can't reach the button? Oh, you are not too big to fail, liquidation imminent!
- based-nerd 3y ago[flagged]
- jeron 3y agoSo, a money printing sim right?
- airza 3y agoReplies to this post really drive home the need for it
- matheusmoreira 3y agoIs there a point you disagree with in one of the replies?
- Dalewyn 3y agoThe whole "Fuck big gov bailing out big bank! We are the 99%!" sentiment, if I had to take a guess. The virtue of bailing out banks is certainly worthy of debate, but that is all irrelevant here because the parent comment implies the need (and there definitely is a need) to teach the masses what banking is, first of all. Remember, these are people who can't tell apart bank bail outs from loan forgiveness from government handouts. The level of civic understanding among the masses is atrocious, and it isn't helped by the media and the powers that be doing their fucking damnedest to keep the masses ignorant and misguided.
- bt4u 3y ago[dead]
- eru 3y agoAlas, that's fraught with a lot of ideology that would be a hornet's nest to stir up. A big part of why historically banking has been so fragile in the US were their asinine bans on branch banking. Until fairly recently, banks were only allowed a single office in a single city. If that city was hit by hard times, the bank was also badly affected. Compare that with eg Canada's nationwide chains, and their superior financial stability. See https://www.alt-m.org/2015/07/29/there-was-no-place-like-canada/ https://www.alt-m.org/2015/07/29/there-was-no-place-like-can... for more.
- OO000oo 3y agoA big part of why big American banks appear financially stable is the ruling class will bail them out with taxpayer money.
- eru 3y agoBail outs and (quasi) government run deposit insurance are indeed a problem. They misprice risk.
- HWR_14 3y agoThey don't misprice risk. The shareholders of a bank are wiped out when deposit insurance is used. It's the account holders who are bailed out.
- AnthonyMouse 3y agoThat's mispricing risk. Now the depositors have no reason to care whether their bank is creditworthy or well-managed, so the bank has the incentive to gamble with their deposits as much as possible. If they get lucky they get to keep the winnings, if they go belly up the FDIC eats the cost.
- trepanne 3y agoYou guys are familiar with how we arrived at this particular regime of mispricing risk, right? It’s preferable to the alternative. This is why banks are tightly (but imperfectly) regulated. Similar observations apply to that more fundamental instrument of mispriced risk - limited liability business entities. The worst possible arrangement, except for all the others. Personally I prefer to tilt at the windmill of the asymmetrical payoff diagram of US CEO compensation structures. While it’s still the case that nobody much cares about my opinions on the subject, this one at least has less of an aspect of battle-tested socioeconomic optimality.
- matheusmoreira 3y agoYeah. I've played many video games with built in economies but not one of them ever tried to introduce the concept of lending. People really need to understand this. MMORPGs provide a nice example of inflation though: when random enemies drop gold, you're printing money by playing the game. It's only natural that industrial money printing presses in the form of bots show up.
- Cthulhu_ 3y agoCounterpoint: Eve Online has both a massive in-game economy and a player base doing a ton of things on the side, including things like giving out loans and the like. I mean the legitimate loans are outweighed by the scams so people are hesitant to actually set up these things, but still. Renting is another one, you and your friends can rent a system from one of the larger alliances and get some protection while doing money making activities.
- OkayPhysicist 3y agoSupporting a lending economy in an MMO is an interesting problem. Collateralized loans would be pretty easy to implement. Maybe implementing a system for getting a lien against a long-term absentee debtor would be interesting as well. Making a more risky loan business, where lenders are responsible for reclaiming their loans by force if necessary could be a cool mechanic as well.
- Eji1700 3y agoThe responses to this comment illustrate how badly such things are needed. What's so frustrating about all of it, is I agree heavily with the sentiment, but it's like saying a house is badly built because the sky is too heavy. No it's because it's made of cheap wood and bad angles, and you can't get anyone to change that if you don't understand and just go with your gut, ignoring hundreds of years of history.
- posterboy 3y agoSo we need a bridge constructor 2, already exists. In reality its Excel, the game.
- zitterbewegung 3y agoPeople can have negative / positive sentiment on my proposal which seems like it tends to be something like a good idea. But, it seems like everyone isn't arguing about the merit of the idea but instead only of their own sentiment of banks instead of whether people need the education or not. Though, one could assume where an official game from the Library of Congress would only approve a game that would further some kind of narrative but, I don't think it would be a good idea .
- WalterBright 3y agoThe economic games I've seen all were terrible simulations of markets, and would teach the wrong messages. Monopoly is one such example. (One of its major faults is one must roll the die and do whatever you land on says.) I expect a banking simulator would hew to the ubiquitous propaganda that the Fed is there to stabilize the money supply. (It's actual purpose is to inflate the money. See Freidman's "Monetary History of the United States")
- nucleardog 3y ago> One of its major faults is one must roll the die and do whatever you land on says. Monopoly was based on “The Landord’s Game” and was never meant to teach economic decision making. It was meant to promote Georgism and demonstrate the power of landlords, for which that “fault” is a feature.
- WalterBright 3y agoExcept it doesn't actually do that, because the game has all kinds of rules to prevent the functioning of the market.
- HWR_14 3y agoWhat rules prevent the functioning of the market? You mean how it just baked the results of market forces into the rents?
- simple-thoughts 3y agoMarkets are fundamentally about choice and trade offs. Monopoly is about runaway power dynamics created through random chance and force (you have to pay rent, you can’t choose not too).
- HWR_14 3y agoThe market isn't in landing on the properties, it's about buying them, trading them and improving them.
- posterboy 3y agoTax inspection, the game?
- konfusinomicon 3y agothe Andrew Jackson boss fight is gonna be epic!
- gonzo41 3y agoThe loading screen should be someone trying to by food with NFT of an ape.
- mrguyorama 3y agoThere are several games, including a series just called "Capitalism" that are about financialization or economies.