This story is rather cool. At least the geek in me thinks it is.
Virtual economies are providing some insight into how real world economies work.
It seems that the libertarian utopia of zero regulation in Second Life has led to downright fraud and economic ruin for virtual banks.
That's the trouble with self-regulation. It's another word for libertarian economic policies.
We're seeing the results of such extreme de-regulation in our own economy.
Virtual worlds provide insight into the real world, but without the costs to real people.
Cool stuff.
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