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Friday, June 11, 2004

Adam Smith is overrated

I'm not an economics major and that's just as well because it appears that the laws of economics don't apply anymore. CNN reports that people are paying real money to buy virtual land as investments for the future. But before you cash out your RRSP's to purchase 1000 acres of 1's and 0's, consider this: the amount of land in the real-world is finite while the amount of "land" in the virtual world is only limited by the amount of harddrives you can cram into a rack. The infinite supply side of the supply and demand equation for these sorts of investments makes me think that they will be wholly unprofitable. But then again, I said the same thing about cybersquatting and I almost choked when sold for millions, so cavaet emptor, Dear Readers.

Your Favorite Jerk


At Saturday, June 12, 2004 6:00:00 AM, Anonymous Anonymous said...

hahah... yeah, buyer beware. However, Adam Smith can hardly be overrated. It's his brilliance that has given us the beauty of pointing to laissez-faire when it comes to you being able to open that bakery, market that face cream and push those placebos :P



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