Tobold reminded me of this economic law. It's an interesting topic to write about, mostly because it says that every people on the World (no matter how weak he is) has a place under the Sun as worker (and not as welfare leech).
Imagine 2 players, one is a lvl 10-something, the other is a max level. For simplification both are miners and low level BS, leveling it. Their goldmaking options are doing (daily) quests and mining. They need gold for various reasons and copper ores to level BS.
The max level guy can get 300G/hour doing dailies. The lowbie can make 1G/hour doing quests. The max level guy can farm 5 stacks of copper ore an hour, while the lowbie can farm only 2 since he has no mount and monsters aggro on him. The max level guy is better in everything, so he is better of ignoring the lowbie right?
Wrong! Their goldmaking ratio is 1:300 while their copper making ratio is 2:5. Unless the two ratios are equal, there is place for trade. If they both farm 1 hour copper and 1 hour gold:
Whoa! The invisible hand gives income to even the weakest, everyone are happy, right? If people would be rational, than they would be. However they are social. The lowbie is not happy that due to the existence of the top level he makes 80G instead of 1. He is envious because he makes 80G and the other guy makes 300. So due to inequity-aversion the weak refuses to work, despite he will suffer more due to the lack of cooperation. Luckily in WoW a lowbie can level to top pretty easily. In real world, he remains a poor and bitter M&S demanding welfare and babbling about the injustice of the World.
Imagine 2 players, one is a lvl 10-something, the other is a max level. For simplification both are miners and low level BS, leveling it. Their goldmaking options are doing (daily) quests and mining. They need gold for various reasons and copper ores to level BS.
The max level guy can get 300G/hour doing dailies. The lowbie can make 1G/hour doing quests. The max level guy can farm 5 stacks of copper ore an hour, while the lowbie can farm only 2 since he has no mount and monsters aggro on him. The max level guy is better in everything, so he is better of ignoring the lowbie right?
Wrong! Their goldmaking ratio is 1:300 while their copper making ratio is 2:5. Unless the two ratios are equal, there is place for trade. If they both farm 1 hour copper and 1 hour gold:
- Lowbie: 2 stacks of ore, 1 G
- Top lvl: 5 stacks of ore, 300G
- All together: 7 stacks of ore, 301G
- Lowbie: 2 stacks of ore, 60G
- Top lvl: 6 stacks of ore, 300G
- All together: 8 stacks of ore, 360G
Whoa! The invisible hand gives income to even the weakest, everyone are happy, right? If people would be rational, than they would be. However they are social. The lowbie is not happy that due to the existence of the top level he makes 80G instead of 1. He is envious because he makes 80G and the other guy makes 300. So due to inequity-aversion the weak refuses to work, despite he will suffer more due to the lack of cooperation. Luckily in WoW a lowbie can level to top pretty easily. In real world, he remains a poor and bitter M&S demanding welfare and babbling about the injustice of the World.



