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<blockquote data-quote="fusangite" data-source="post: 1898672" data-attributes="member: 7240"><p>Clay, you have made a terrible mistake in raising this just after I had to do a seminar report on late medieval economic theory. </p><p></p><p>I'm quite a fan of Joe and Suzi Browning's medieval price simulator (not just because I receive a minor credit in their book). However, I'm less of a fan than I was on Tuesday. Here is the problem as I see it:</p><p></p><p>In D&D, science and natural law work differently than in our world, thus all the spells and ecologically impossible creatures. We know that D&D physics with its elements and falling damage is more Aristotelian than Newtonian. What about D&D economics?</p><p></p><p>If we look at how the rules are structured, we can see that when it comes to magic items and masterwork items, prices are objective. In real world economics prices are subjective -- price and value are determined solely by what amounts people are willing to buy and sell for. But in D&D, the costs of magic and masterwork items are absolutely fixed. Indeed, the number of experience points a magic item costs is linked to its <em>objective</em> value as described in the DMG. Even if two people agree to exchange the item for a different amount of money, its <em>real</em> value remains what the the DMG says it is. </p><p></p><p>Therefore, a significant portion, in terms of total value not total volume, of the D&D economy isn't really governed by economic laws as we understand them. Franciscan and Protestant economic theory, from which we inherit modern economics, that states that value resides in the subjects of a transaction (subjective); but Aristotelian economic theory states that value is intrinsic to the object being transacted, irrespective of the characteristics of the sujects (objective). </p><p></p><p>I'm not sure if anyone has thought through the weird mix of objective and subjective value D&D presents us or how we can get out of it.</p></blockquote><p></p>
[QUOTE="fusangite, post: 1898672, member: 7240"] Clay, you have made a terrible mistake in raising this just after I had to do a seminar report on late medieval economic theory. I'm quite a fan of Joe and Suzi Browning's medieval price simulator (not just because I receive a minor credit in their book). However, I'm less of a fan than I was on Tuesday. Here is the problem as I see it: In D&D, science and natural law work differently than in our world, thus all the spells and ecologically impossible creatures. We know that D&D physics with its elements and falling damage is more Aristotelian than Newtonian. What about D&D economics? If we look at how the rules are structured, we can see that when it comes to magic items and masterwork items, prices are objective. In real world economics prices are subjective -- price and value are determined solely by what amounts people are willing to buy and sell for. But in D&D, the costs of magic and masterwork items are absolutely fixed. Indeed, the number of experience points a magic item costs is linked to its [i]objective[/i] value as described in the DMG. Even if two people agree to exchange the item for a different amount of money, its [i]real[/i] value remains what the the DMG says it is. Therefore, a significant portion, in terms of total value not total volume, of the D&D economy isn't really governed by economic laws as we understand them. Franciscan and Protestant economic theory, from which we inherit modern economics, that states that value resides in the subjects of a transaction (subjective); but Aristotelian economic theory states that value is intrinsic to the object being transacted, irrespective of the characteristics of the sujects (objective). I'm not sure if anyone has thought through the weird mix of objective and subjective value D&D presents us or how we can get out of it. [/QUOTE]
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