Eturnalshift wrote:
We know there is an in-game economy, and an economic system, that was developed by economists to be less volatile and to have a greater wealth distribution.
You're confusing PR pitches with facts.
The
fact is: it was developed to make Anet money. That is why it exists.
Eturnalshift wrote:
Seriously, why do we believe this market is following the same rules of our markets?
Because the rules of markets are the rules of human nature.
Eturnalshift wrote:
For all we know, they could've built the equations around a different model, and they could base prices off a "middle three quintet" rather than a "whole of the wealth" -- that would certainly change things since hoarders and new joins would have less impact on the volatility of the market, while both still have their same purchasing power. In any case, no one knows how this is all run or why they choose one way over another.
Impossible. The price of gems is the same for everyone. As for the TP, that's not possible either, prices are as shown and listed by other players.
If you believe in the free market (you do, right?) you must accept the fundamental premise of the free market which is that all participants act in their own self-interest. In the case of Anet, their self-interest is their bottom line. Why would it be anything else?
If you think about it for a few minutes (try it), our economy is not so different. Real-life governments create money out of thin air just as Anet does. The purchasing power of money can be subtly but profoundly tweaked through adjusting the interest rate and money supply, which does exactly what Anet's manipulation of the gem/gold coefficient does, it affects the supply of currency and its purchasing power.
Nor is the fact that the game is virtual a valid basis to draw a contrast. Most of the world's big financial operations today are 100% virtual and deal entirely in intangibles many orders removed from the physical goods they loosely represent, with the people and things in the real world just kind of holding on for the ride, same as players just trying to farm a few silver. This is also why our economy is so strange and so removed from what would seem sensible or efficient.
Eturnalshift wrote:
Edit: It's also worth mentioning that the Trading Post hasn't been functioning for a majority of the playerbase.
That's what we're talking about...the TP is down and it's logical to believe that the reasons why are what I stated and supported with facts.