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Game Theory: World of Warcraft will SAVE the Economy

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Become a Theorist! ►► http://bit.ly/1qV8fd6 Free HuluPlus Trial! ►► http://www.huluplus.com/matpat We've talked before about how incredibly addictive World of Warcraft is. But one thing we haven't mentioned is how the game is secretly training the some of the greatest economic thinkers in history. Business school? MBA? Forget that! Play a couple hundred hours of WoW and you'll be able to solve some of the world's most difficult financial issues. This video explains how! Check out some more of our awesome video game content: Game Theory: https://www.youtube.com/playlist?list=PL35FE5C4B157509C9 Game Exchange: https://www.youtube.com/playlist?list=PLCBEC827914127AA3 Digressing and Sidequesting (DSNQ): https://www.youtube.com/playlist?list=PLOl4b517qn8jve_YolaxYuADuzzT3EHXP
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Text Comments (10546)
Zach Townsend (1 day ago)
So sad warcraft is dead
John Pekala (5 days ago)
Random thing I noticed that has nothing to do with the video itself but the background music from the time 12:24 tell about the end sounds like the background Dungeon music for the 7th Saga
Lincoln H (8 days ago)
NARUTO SUCKS
MrRudeboey (12 days ago)
i learned how to bid on e bay
darkmatter411 (17 days ago)
I've watched this maybe 6 times since it came out, and every time I complain about his lack of research cause there has always been a gold cap in wow as of this comment it's 10mil per character but it used to be 214,748 gold, 36 silver, 48 copper this always bothered me
When/where did JPMorgan Chase & Co. use World of Warcraft to explain economic principles?
Niall Davidson (27 days ago)
got my own personal hippogrif and a ton of gold no need to hitch a ride. haha, no but seriously i have a waste of a life
Goolog (1 month ago)
(((Central banks)))
björgvin karlsson (1 month ago)
Iceland's government has never actually approved it its still just hanging there :(
Wired Wrong (1 month ago)
I found my spore at myself and a firely why bid on what you can find yourself?
Dragon Slayer 359 (2 months ago)
I thought I was going to sleep at some point tonight. It's now 7:11 a.m.
Jack Wasserman (2 months ago)
Huh, you made a wow economics video around the month frame my favorite channel extra credits did, that’s kinda cool
Ryan Sherring (2 months ago)
All the dislikes are world of warcraft fans
Caroline Harned (2 months ago)
Waaaaaaaait is this all games or just World of Warcraft
Ryan Stewart (2 months ago)
Not gonna lie this is the worst theory you’ve ever made. You just talked about a couple similarities in the wow economy and were like gj man
EvaPunk333 (2 months ago)
Everytime I watch an old video and Ronnie is mentioned I get sad. RIP Ronnie
DahrkMezalf (2 months ago)
If nothing else, the WoW marketplace teaches the principles of supply/demand. But just like trading cards (which are literally worthless in "usefulness"), many things hold a collector's value. - That's why trading cards, old currency, and retro games can fetch an outrageous price on the market: it's not the physical value, but a mix of supply/demand & collector's value. - Any WoW player who has dabbled in the Auction market has learned this. The value of their goods is relevant to supply/demand along with how easy or difficult it is to pay for those goods. And of course, there's a niche market for collectors as well: these things are purely cosmetic (like a trading card), but the emotional/aesthetic value raises it's average sale price. - Simply put: things will sell if people keep buying; we adjust prices to match the current economy, whether that's supply/demand or collector's value. It's simply a matter of observing the market and adjusting accordingly. Just like real life.
BFlat (2 months ago)
Anyone else here after the Ronnie situation? When he was in the last bit I almost cried...
Devan Dunlap (2 months ago)
Neathereeave? Pft weak. Hex weave my dude.
PennyAfNorberg (2 months ago)
But wow has serval currency systems, gold isn't top dog, and the other are a) more fixed and b) reset each expansion, or more frequently.
Braden Nitsch (2 months ago)
I will actually use this in economy class if we need to create our own currency
alpan (2 months ago)
I love the bgm makes it more interesting
T3CHN01200 (2 months ago)
I like these economics theories.
Sergei (2 months ago)
Ha, bitcoin, don't you feel silly
Willy c (2 months ago)
there is a gold cap each toon allow to have.
PsychoLucario (2 months ago)
Anyone who's played the AH knows that supply side economics is utter bullshit. also this is quite old now, blizz has a way to deal with inflation through the game tokens and adjusting gold sources. various expansions now have increased and decreased inflation
Allen Prince (2 months ago)
R.I.P Ronnie, we will your great work
mohammed sarker (2 months ago)
Man, looking back this video was so stupid
William Wilson (2 months ago)
The reason items are selling so high is because Blizzard has made gold easy to get. When level cap was 60 and items vendor for copper and silver a single gold coin took all day to get, now at level 120 you vendor items for 75 gold coins and can make thousands a day.
ugly boi (2 months ago)
69B likes
DraigoDragon (2 months ago)
was hopeing this was the corrupted blood incident :<
Doopie Wolfie (3 months ago)
What
Yogurt Banana (3 months ago)
R.I.P. Ronnie
5x55 (3 months ago)
The gold cap is 9,999,999 there is one....
The Soul Of Hope (3 months ago)
i got a war of world craft at the being of the video..... i was not that surprised
Vicho Hernández (3 months ago)
11:30 ;-; we remember...
J Cubed (3 months ago)
Ronnie :(
GamerFromJump (4 months ago)
Fiat currency is designed to let governments rob people. Trade paper for valuables, decouple the paper from worth, then inflate the paper through mass printing. The printers get the valuables, the people get the shaft.
😱😱😱 You watched Inuyasha?!?!?!?!?!?!?
ChaosConsortium (4 months ago)
One thumbs up for use of the The 7th Saga Soundtrack.
Gareth Watkins (4 months ago)
i like how he mentioned worgen dk's lol i'm one
Gareth Watkins (4 months ago)
I have not read the comments so idk if anyone pointed this out yet, but there is a point in which you really can't have more gold on one character, i mean unless you use another character then sure but ion a single characetr iirc there is a maximum amount of gold one can have on them at a single time,
Gareth Watkins (4 months ago)
also i believe the max has always been there tho it's hard to getto for most people iirc
Jasu Rai (4 months ago)
I love your Channel Matthew
Tankboy28 (4 months ago)
black desert online better
Stephen Dutka (4 months ago)
Ha I haven't watched yet, but I give all my business credit to WoW. I opened a store 8 years ago with the ideas I used in WoW. It supports my family gave friends a job and life looks like life will work out for us.
Matthew Fears (4 months ago)
i once sold a legendary for 70,000 gold it sold in one hour.
Matthew Fears (4 months ago)
2018 anyone? cuz now there is a new X pack BATTLE FOR AZEROTH .All u Hordes r prob gonna kill me and camp my body.
Med Otaku (4 months ago)
Should have used Enjin Coin...
the gm (4 months ago)
travelers tundra mamoths are bind on pickup so you can't buy them of the auction(sry can't speel) house, and you didn't say black market because that is different
the gm (4 months ago)
so do the reaserch on the items you pick for examples before you use them as examples
my channel (4 months ago)
I never liked world of Warcraft But the movie was nice
BigDad138 (4 months ago)
Gotta love that 7th Saga music
Myles C. (5 months ago)
rise up gamers
Therhubarb13 (5 months ago)
Wow
XentorAntarix (5 months ago)
As if..... *lol*. Sorry.
Robert Williams (5 months ago)
Wait, so at a rate of 1 penny for 10,000 Marks at the time, the Germans were actually devaluing the paper by printing a Mark onto it?
ElzariusUnity (5 months ago)
Compared to some other games like EVE online. WoW economy is so not realistic
stuart pratt (5 months ago)
as I was watching this I had my factorio game open in the background and one of the research had finished and its sound timed this moment perfectly 7:29
Phoenix Skyward (6 months ago)
I have nothing to say to you but lots of love. <3
Kredoz (6 months ago)
bro you can buy for 20$ 300k+ gold
Tad Jones (6 months ago)
Finally.....matpat made a WoW video.....thank god
WitherWolf33 (6 months ago)
From now on I want this theme as a ringtone.
Miguel Sanchez (6 months ago)
1:55 EvE Online is about 20 times more complex. The Market isn't magic. Goods have to be moved manual!
Valkyrie (6 months ago)
The economy would be fine as long as countries and the 1% stop monopolizing everything for their own gain. The fact is that almost everyone is alive to benefit the few. Imagine a free to play game which attracts many people because it is free but it also got extremely bad P2W system which few will use to dominate the game and put the game out of balance while the free to play players are just a population count that entertains the few P2W players which wont exist if the free to play players left the game. That's how the real world works except you can't really just leave because there are rules that are meant to keep you in place while few people benefit from it. Economy isn't the problem, how our society works is the problem.
Natalie Cole (6 months ago)
$$$$$$$$$$$$$$$WAR CRAFT
The Ugly Barnacle (6 months ago)
been grinding... 3 days... need more gold...
gamerjedi 360 (6 months ago)
? 6:27 worst joke ever
j1b00m (6 months ago)
I like the south park reference!
CYber GeNik (6 months ago)
The intro was cringy and obviously made by someone who's never played WoW...
Alec Birdsall (7 months ago)
The price differences of Santa hats in RuneScape from back when I played is nuts
Mr Fred Gaming (7 months ago)
moar plez
Synonymous (7 months ago)
Been waiting a long time for that WoW theory. It's okay though, you have all the time in the world. With Battle for Azeroth coming out in the next months, you have plenty of theory fodder.
Mannen OP (7 months ago)
Nerd
mike Durry (7 months ago)
Nah OSRS will save the economy
andrej danevski (7 months ago)
how did matpat predict bitcoin? 2:59
cliffman theb daplayer (7 months ago)
I am getting the TCG for world of Warcraft.
A Person (7 months ago)
*sponsored by world of Warcraft*
Lilia Carriquiry (7 months ago)
Maybe even ROBLOX players! some guys are basically economic GODS in ROBLOX,and they gain REAL money with one of ROBLOX'S functions that let you trade robux for real cash.
Mr. Binkers the cat (7 months ago)
This is great. We need to teach Democrats about this.
cody kirk (7 months ago)
this guy is roughly 60% right about the wow economy
FlySpyGuy (7 months ago)
They should institute communism in WOW so everyone can see why it sucks.
FlySpyGuy (7 months ago)
And this is why WW2 happened.
Ace Ventura (7 months ago)
Lol, just because wow is going through inflation, mainly caused by gold farmers and the developers, doesn't mean every neck beard who plays wow is some economic genius... If that was the case every Venezuelan citizen is also an economic genius.
Pinhead Larry (7 months ago)
I just got hacked and banned to
Celebriel82 (7 months ago)
Sorry MatPat, there are gold caps. No player has infinite money.
henk de steen (7 months ago)
4:41 yeah boiiii de gulden hup nederland yey
someone (8 months ago)
wheres the australian dollars
для Родины ! (8 months ago)
Ewwww ehhh warlords ehhh disgusting the most casual expansion ever
Trent8086 (8 months ago)
Blizzard currently has an active Goldsink in place to adjust the economy. A player can buy a token in game that can be exchanged for play time. This is well and good for those who have the in game currency for it, but in the end it does nothing for the inflation. Players are not going to spend hard earned in game currency for a to\ken to play for a month when they already are willing to pay real cash for that month of time. What Blizzard should be using as gold sinks is VANITY ITEMS. Cool weapon transmogs, new mounts, special abilities with a fixed duration, or even ways to advance in game grinding mechanics such as reputation or crafting. You can currently actually buy in game gold directly from Blizzard as well. Spending 20 dollars will get you a token (the same one people can buy in game with gold) and you can sell that token in game for gold. I think this was done more to cut into the profit margins of gold farmers more than to balance the economy since these tokens are guaranteed to sell, meaning Blizzard is possibly buying out tokens that players do not buy and artificially flooding gold into the economy themselves.
bennyhannasd (8 months ago)
I love the Blaster Master music, it really takes me back. It was one of my favorite games on the NES.
Out Of This Galaxy (8 months ago)
wok of war crack
Rotten Legacy (8 months ago)
I would probably play WoW if I could buy it ._.
Richard Carr (8 months ago)
I love this game
Purplepug22 (8 months ago)
* when a videogame's government is better than your own * T-T
BLUE GAMING (8 months ago)
WOW that was a bad pun
Whatever Gaming (8 months ago)
play eve so much better econimy
Jazz (8 months ago)
Fun Fact: Banks were kind of created by the Templars :) where they'd deposit money and be given a piece of paper with how much they deposited and withdraw it at the local Templar "bank"
I always put the game theory and film theory intro on the highest volume! 🤣
GWOTvetx4 (9 months ago)
The ecomomy was never based on the Gold in WoW. The gold was the paper money backed by the amount of time a player used to get the item.
Jerstah phucku (9 months ago)
Why play 7th saga music when talking about WoW. Thats like sleeping with my wife while eating my steak and looking dead into my eyes with a smirk on your theoretical face.
Ektlan2 (9 months ago)
Economist?

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