Economics - Revision history

Aleigh: /* LEIGH&CO Economy */

2024-03-11T21:14:13Z

LEIGH&CO Economy

← Older revision		Revision as of 21:14, 11 March 2024
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	It is estimated that the there are about 11.4 billion diamonds, worth about M1.82 trillion, of which Survivors have only mined a tiny fraction.		It is estimated that the there are about 11.4 billion diamonds, worth about M1.82 trillion, of which Survivors have only mined a tiny fraction.

			== Diamond Exchange ==

			In an earlier time the Central Bank would pay less for diamonds than it would sell them. This created a disadvantaged situation where Survivors were reluctant to exchange their diamonds for marbles knowing that if they needed the diamonds back later, perhaps as materials, they would effectively lose money. That practice was abolished and now the central bank exchanges diamonds at an even rate so that there is no disadvantage to converting diamonds into marbles.

	== Money / Time Ratio ==		== Money / Time Ratio ==

10.52.4.51: /* Emerald Economy */

2021-12-14T19:48:42Z

Emerald Economy

← Older revision		Revision as of 19:48, 14 December 2021
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	purchase a wide variety of goods, they most reliably buy melons, leading some to call this the "Melon Economy".		purchase a wide variety of goods, they most reliably buy melons, leading some to call this the "Melon Economy".

	A typical scenario for an Iso is to build an industrial-sized melon farm, and to sell ~~the harvest~~ the melons~~, selling them~~ to merchants. The resulting emeralds can then be used to purchase a wide array of goods, ranging from food to enchantments.		A typical scenario for an Iso is to build an industrial-sized melon farm, and to harvest and sell the melons to merchants. The resulting emeralds can then be used to purchase a wide array of goods, ranging from food to enchantments.

10.52.4.51 at 19:48, 14 December 2021

2021-12-14T19:48:08Z

← Older revision		Revision as of 19:48, 14 December 2021
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	== Marbles ==		== Marbles ==

	The LEIGH&CO Economy is built around diamonds as the reference standard. The official currency of the LEIGH&CO economy are marbles. The injection mechanism for currency (how capital is created) is the diamond exchange. At any [[Central Bank]] location, LEIGH&CO will buy any quantity of marbles for at least the basic diamond price (BDP). The BDP is currently 160. Further, LEIGH&CO pledges not to change the BDR more than 4 times per year. As of Y2S3, the BDR has never changed.		The [[LEIGH&CO]] Economy is built around diamonds as the reference standard. The official currency of the LEIGH&CO economy are marbles. The injection mechanism for currency (how capital is created) is the diamond exchange. At any [[Central Bank]] location, LEIGH&CO will buy any quantity of marbles for at least the basic diamond price (BDP). The BDP is currently 160. Further, LEIGH&CO pledges not to change the BDR more than 4 times per year. As of Y2S3, the BDR has never changed.

	It is estimated that the there are about 11.4 billion diamonds, worth about M1.82 trillion, of which Survivors have only mined a tiny fraction.		It is estimated that the there are about 11.4 billion diamonds, worth about M1.82 trillion, of which Survivors have only mined a tiny fraction.
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	The Emerald economy is the unsanctioned economic system practiced by the [[Natives]]. It is also widely used by [[Isolationist\|Isos]] who do not wish to engage with LEIGH&CO. The typical way to acquire emeralds is by		The Emerald economy is the unsanctioned economic system practiced by the [[Natives]]. It is also widely used by [[Isolationist\|Isos]] who do not wish to engage with LEIGH&CO. The typical way to acquire emeralds is by
	selling goods to merchants located throughout the native villages of New Eden. Although these merchants will		selling goods to merchants located throughout the native villages of [[New Eden]]. Although these merchants will
	purchase a wide variety of goods, they most reliably buy melons, leading some to call this the "Melon Economy".		purchase a wide variety of goods, they most reliably buy melons, leading some to call this the "Melon Economy".

	A typical scenario for an Iso is to build an industrial-sized melon farm, and to sell the harvest the melons, selling them to merchants. The resulting emeralds can then be used to purchase a wide array of goods, ranging from food to enchantments.		A typical scenario for an Iso is to build an industrial-sized melon farm, and to sell the harvest the melons, selling them to merchants. The resulting emeralds can then be used to purchase a wide array of goods, ranging from food to enchantments.

10.52.4.51: /* Money / Time Ratio */

2021-12-14T19:47:26Z

Money / Time Ratio

← Older revision		Revision as of 19:47, 14 December 2021
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	== Money / Time Ratio ==		== Money / Time Ratio ==

	Diamonds are a fixed non-renewable resource and cannot be created through traditional [[Technica]]. Consequently it is possible to fix a time/money standard. LEIGH&CO Statisticians have estimated that a experienced [[Survivor]] using efficient techniques and utilizing Fortune III can yield, on average, about 64 diamonds per hour, or M10,240 per hour.		Diamonds are a fixed non-renewable resource and cannot be created through traditional [[Technica]]. Consequently it is possible to fix a time/money standard. LEIGH&CO Statisticians have estimated that a experienced [[Survivor]] using efficient techniques and utilizing Fortune III can yield, on average, about 64 diamonds per hour, or M10,240 per hour at a BDP of M160 per diamond.

	This can serve as a basis for establishing prices for goods. For example, if a given production technique produces 500 blocks of some type per hour, and and given that the diamond standard is about M10,240 per hour, then 10,240 / 500 = 20.48. So a fair price for the block being produced is probably around M21.		This can serve as a basis for establishing prices for goods. For example, if a given production technique produces 500 blocks of some type per hour, and and given that the diamond standard is about M10,240 per hour, then 10,240 / 500 = 20.48. So a fair price for the block being produced is probably around M21.

10.52.4.51: /* Marbles */

2021-12-14T19:46:51Z

Marbles

← Older revision		Revision as of 19:46, 14 December 2021
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	The LEIGH&CO Economy is built around diamonds as the reference standard. The official currency of the LEIGH&CO economy are marbles. The injection mechanism for currency (how capital is created) is the diamond exchange. At any [[Central Bank]] location, LEIGH&CO will buy any quantity of marbles for at least the basic diamond price (BDP). The BDP is currently 160. Further, LEIGH&CO pledges not to change the BDR more than 4 times per year. As of Y2S3, the BDR has never changed.		The LEIGH&CO Economy is built around diamonds as the reference standard. The official currency of the LEIGH&CO economy are marbles. The injection mechanism for currency (how capital is created) is the diamond exchange. At any [[Central Bank]] location, LEIGH&CO will buy any quantity of marbles for at least the basic diamond price (BDP). The BDP is currently 160. Further, LEIGH&CO pledges not to change the BDR more than 4 times per year. As of Y2S3, the BDR has never changed.

	It is estimated that the there are about 11.4 billion diamonds, worth about M1.82 trillion, of which Survivors have only mined a fraction.		It is estimated that the there are about 11.4 billion diamonds, worth about M1.82 trillion, of which Survivors have only mined a tiny fraction.

	== Money / Time Ratio ==		== Money / Time Ratio ==

10.52.4.51: /* Marbles */

2021-12-14T19:46:40Z

Marbles

← Older revision		Revision as of 19:46, 14 December 2021
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	The LEIGH&CO Economy is built around diamonds as the reference standard. The official currency of the LEIGH&CO economy are marbles. The injection mechanism for currency (how capital is created) is the diamond exchange. At any [[Central Bank]] location, LEIGH&CO will buy any quantity of marbles for at least the basic diamond price (BDP). The BDP is currently 160. Further, LEIGH&CO pledges not to change the BDR more than 4 times per year. As of Y2S3, the BDR has never changed.		The LEIGH&CO Economy is built around diamonds as the reference standard. The official currency of the LEIGH&CO economy are marbles. The injection mechanism for currency (how capital is created) is the diamond exchange. At any [[Central Bank]] location, LEIGH&CO will buy any quantity of marbles for at least the basic diamond price (BDP). The BDP is currently 160. Further, LEIGH&CO pledges not to change the BDR more than 4 times per year. As of Y2S3, the BDR has never changed.

	It is estimated that the there are about 11.4 billion diamonds, worth about 1.82 trillion ~~marbles~~, of which Survivors have only mined a fraction.		It is estimated that the there are about 11.4 billion diamonds, worth about M1.82 trillion, of which Survivors have only mined a fraction.

	== Money / Time Ratio ==		== Money / Time Ratio ==

10.52.4.51: /* Money / Time Ratio */

2021-12-14T19:42:58Z

Money / Time Ratio

← Older revision		Revision as of 19:42, 14 December 2021
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	Diamonds are a fixed non-renewable resource and cannot be created through traditional [[Technica]]. Consequently it is possible to fix a time/money standard. LEIGH&CO Statisticians have estimated that a experienced [[Survivor]] using efficient techniques and utilizing Fortune III can yield, on average, about 64 diamonds per hour, or M10,240 per hour.		Diamonds are a fixed non-renewable resource and cannot be created through traditional [[Technica]]. Consequently it is possible to fix a time/money standard. LEIGH&CO Statisticians have estimated that a experienced [[Survivor]] using efficient techniques and utilizing Fortune III can yield, on average, about 64 diamonds per hour, or M10,240 per hour.

	This can serve as a basis for establishing prices for goods. For example, if a given production technique produces 500 blocks of some type per hour, and and given that the diamond standard is about M10,240 per hour, then ~~10240~~ / 500 = 20.48. So a fair price for the block being produced is probably around M21.		This can serve as a basis for establishing prices for goods. For example, if a given production technique produces 500 blocks of some type per hour, and and given that the diamond standard is about M10,240 per hour, then 10,240 / 500 = 20.48. So a fair price for the block being produced is probably around M21.

	External market factors can distort a price, leading to prices being higher or lower than would otherwise be expected.		External market factors can distort a price, leading to prices being higher or lower than would otherwise be expected.

10.52.4.51: /* Money / Time Ratio */

2021-12-14T19:42:44Z

Money / Time Ratio

← Older revision		Revision as of 19:42, 14 December 2021
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	== Money / Time Ratio ==		== Money / Time Ratio ==

	Diamonds are a fixed non-renewable resource and cannot be created through traditional [[Technica]]. Consequently it is possible to fix a time/money standard. LEIGH&CO Statisticians have estimated that a experienced [[Survivor]] using efficient techniques and utilizing Fortune III can yield, on average, about 64 diamonds per hour, or M10,240 per hour~~. This can serve as a basis for establishing prices for goods~~.		Diamonds are a fixed non-renewable resource and cannot be created through traditional [[Technica]]. Consequently it is possible to fix a time/money standard. LEIGH&CO Statisticians have estimated that a experienced [[Survivor]] using efficient techniques and utilizing Fortune III can yield, on average, about 64 diamonds per hour, or M10,240 per hour.

	For example, if a given production technique produces 500 blocks of some type per hour, and and given that the diamond standard is about M10,240 per hour, then 10240 / 500 = 20.48. So a fair price for the block being produced is probably around M21.		This can serve as a basis for establishing prices for goods. For example, if a given production technique produces 500 blocks of some type per hour, and and given that the diamond standard is about M10,240 per hour, then 10240 / 500 = 20.48. So a fair price for the block being produced is probably around M21.

	External market factors can distort a price, leading to prices being higher or lower than would otherwise be expected.		External market factors can distort a price, leading to prices being higher or lower than would otherwise be expected.

10.52.4.51: /* LEIGH&CO Economy */

2021-12-14T19:41:04Z

LEIGH&CO Economy

← Older revision		Revision as of 19:41, 14 December 2021
Line 5:		Line 5:
	The LEIGH&CO Economy is built around diamonds as the reference standard. The official currency of the LEIGH&CO economy are marbles. The injection mechanism for currency (how capital is created) is the diamond exchange. At any [[Central Bank]] location, LEIGH&CO will buy any quantity of marbles for at least the basic diamond price (BDP). The BDP is currently 160. Further, LEIGH&CO pledges not to change the BDR more than 4 times per year. As of Y2S3, the BDR has never changed.		The LEIGH&CO Economy is built around diamonds as the reference standard. The official currency of the LEIGH&CO economy are marbles. The injection mechanism for currency (how capital is created) is the diamond exchange. At any [[Central Bank]] location, LEIGH&CO will buy any quantity of marbles for at least the basic diamond price (BDP). The BDP is currently 160. Further, LEIGH&CO pledges not to change the BDR more than 4 times per year. As of Y2S3, the BDR has never changed.

	It is estimated that the there are about 1.9 billion diamonds, worth about 1.83 trillion marbles, of which Survivors have only mined a fraction.		It is estimated that the there are about 11.4 billion diamonds, worth about 1.82 trillion marbles, of which Survivors have only mined a fraction.

	== Money / Time Ratio ==		== Money / Time Ratio ==

10.52.4.51: /* LEIGH&CO Economy */

2021-12-14T19:39:53Z

LEIGH&CO Economy

← Older revision		Revision as of 19:39, 14 December 2021
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	= LEIGH&CO Economy =		= LEIGH&CO Economy =

			== Marbles ==

	The LEIGH&CO Economy is built around diamonds as the reference standard. The official currency of the LEIGH&CO economy are marbles. The injection mechanism for currency (how capital is created) is the diamond exchange. At any [[Central Bank]] location, LEIGH&CO will buy any quantity of marbles for at least the basic diamond price (BDP). The BDP is currently 160. Further, LEIGH&CO pledges not to change the BDR more than 4 times per year. As of Y2S3, the BDR has never changed.		The LEIGH&CO Economy is built around diamonds as the reference standard. The official currency of the LEIGH&CO economy are marbles. The injection mechanism for currency (how capital is created) is the diamond exchange. At any [[Central Bank]] location, LEIGH&CO will buy any quantity of marbles for at least the basic diamond price (BDP). The BDP is currently 160. Further, LEIGH&CO pledges not to change the BDR more than 4 times per year. As of Y2S3, the BDR has never changed.

	Diamonds are a fixed non-renewable resource and cannot be created through traditional [[Technica]]. Consequently it is possible to fix a time/money standard. LEIGH&CO Statisticians have estimated that a experienced [[Survivor]] using efficient techniques and utilizing Fortune III can yield, on average, about 64 diamonds per hour, or M10,240 per hour. This can serve as a basis for establishing prices for goods.		It is estimated that the there are about 1.9 billion diamonds, worth about 1.83 trillion marbles, of which Survivors have only mined a fraction.

			== Money / Time Ratio ==

			Diamonds are a fixed non-renewable resource and cannot be created through traditional [[Technica]]. Consequently it is possible to fix a time/money standard. LEIGH&CO Statisticians have estimated that a experienced [[Survivor]] using efficient techniques and utilizing Fortune III can yield, on average, about 64 diamonds per hour, or M10,240 per hour. This can serve as a basis for establishing prices for goods.

	For example, if a given production technique produces 500 blocks of some type per hour, and and given that the diamond standard is about M10,240 per hour, then 10240 / 500 = 20.48. So a fair price for the block being produced is probably around M21.		For example, if a given production technique produces 500 blocks of some type per hour, and and given that the diamond standard is about M10,240 per hour, then 10240 / 500 = 20.48. So a fair price for the block being produced is probably around M21.