To everyone interested in EMC economy Let's form "EMC Economic Forum", a group of people that want to dedicate some of their time on EMC to discuss, support and improve the state of the EMC economy. Agenda Watch the economy and the marketplace, gather and analyze data, create and publish reports In-depth discuss economic topics Seek ways for development Strive for a stable economy that supports development Organize awards for achievements in EMC economy Publish peer-reviewed papers and recommendations Provide some "Chamber of Economy" services Provide other quality economic services to the community Have fun and satisfaction while playing, learning and providing for the community Everyone who can and wants to actively contribute is invited. The Forum shall be a win-win deal for everyone and for the whole EMC community. A special invitation goes to members who have profound knowledge and experience in EMC economy and economy in general, students of Economics, economically educated and professionals. As I envision it, most of the services would be provided to the community free of charge, but distinct workgroups within the Forum might also provide paid services. In the future, the Forum might ask for donations and establish a budget to be able to hire members from the community to perform needed tasks like collecting data, surveying, interviewing etc. Any financial activity of the Forum would have to be completely transparent. The Forum could be organized in workgroups, where a workgroup has at least 3 Forum members and a distinct sub-agenda. One core workgroup, perhaps "The agenda workgroup" responsible for the Forums' global agenda could consist of annually (or perhaps semiannually) elected Forum members (how many? ... perhaps 7?). This workgroup would have decisive power and responsibility for the agenda and the work of the Forum as a whole. Please spread the word to members who might be interested and who you value as wise and knowledgeable EMC economists.
If I can pronounce it the acronym eef, I'm in. Seriously though, I really like the idea of EMC's members banding together and trying to fix the economy. There are so many items like iron, emeralds and beacons that I used to be able to make a huge amount of rupees from, but now the price and demand of these items fluctuate in a really strange manner. I don't mind prices changing, but I just want some stable prices for a reasonable amount of time.
This sounds like a great idea! I'm not engaged much in the economy at the moment, but this sort of thing might get me more interested
If you don't mind to take a critic on board then I'm also interested to join and see where this leads. Just like mba I'm not very active within the economy but (usually) enough to know basic prices, sometimes even across servers (always surprises me that the prices per-server also often heavily differ).
What is going on - let's try to organize a bit. Do some brainstorming, collect ideas, identify topics, see if we can build workgroups, wait for their output, review, discuss, publish results if we manage to produce anything of value ... yes, I think we can. There are so many interesting topics, but I'd suggest to wait for a week and see who's interested. In the mean time, perhaps everyone can make a personal list of interesting topics / questions / ideas / suggestions. Big or small, it doesn't matter. Brainstorming = everything is allowed. Like this: - Let's find out why. Some of my personal: - share anonimized shop data and compile statistics, perhaps automate the process (we already have most of the needed software) - design a survey to learn about economic behavior of EMC members - try to find out or estimate some basic economic data, perhaps even estimate GDP per capita? (Not easy to do.) - monetary analysis, risks and potential remedies - discuss impact of recent and future changes (already partially done), see if we can produce a kind of forecast - produce and publish a paper "Introduction to EMC economy" (I like that one!) - interview producers / farmers, get their view, make a report - interview shop owners, ... - and so on ( in no particular order) - there are so many ... let's start simple and small / see what is of interest in the group No pressure, I guess 30 min per week in average is just fine. Have fun with hobby economy in a group.
I would be interested in this, as I love testing various shops and the economy. I will be gone for a few months starting in a week, however I will be back afterwards.
I would be interested in this also. I don't have vast experience on EMC (only 2 months), but I do have a master's degree in Finance.
My part in the economy is keeping inflation down by being a great rupee sink. I burn most of the promos I buy because it's fun. You're welcome.
Funny you say that, because that actually increases the inflation. If you buy a promo item and then destroy it, you gave money to someone (who will keep using them) and destroyed the product which was the basis for it. Thus the amount of money in circulation remained the same, but the amount of product is ceteris paribus smaller, which increases prices for the rest of the products i.e. causes inflation.
*watched* May try to play some kind of part when I get out of college next week and have my essay planning finished. Until then, I'll keep an eye on this.
I love the idea of some periodicals but do we really believe we have more than a couple of topics which will work in to something people would want? I believe those would have to be in a written book as well, not just a sheet of paper. I think that anything welcome to is great, though we have no way to auto distribute it to those who desire it or to new players. Also most new players are overwhelmed already yet to get more information tossed at them. I not bashing this idea, I love it, just putting out my pros and cons. I'm a numbers guys and I run my pricing on supply and demand. As Shell noted those numbers really are impacted server by server. So while I love the idea of a "Chamber of Economy" I would like a little more information on how it would work and be used. I don't want to make it to complicated either but sure would make sense if this had dues like an IRL chamber would. EG: member in good standing. ...but what is else entailed in that? And I just want to caution that while I am pro this group, which is community driven, I do want everyone from both old to new to keep in mine several things. New players do not have the existing stocks nor rupees that older players have. Even "broke" older players are only that way because they use all they have to get items and could sell to make a fortune. This really does make a difference when you are trying to trying to get someone to say tighten margins on a buy/sell or even when having to sell and item vs competition whether much lower or higher. I think this is going to be tough just because the reality for each person is going to be so different. If I owned 2 accounts each with 2-4 res's and each had over a million rupees plus my main had 20 million and a mega mall, I'm going to have a whole different outlook on pricing than a person with 50k, 1 res and has been on for 3 months. Also, there has to be understanding that not only has EMC changed some but minecraft has also changed a ton especially with some of the latest items, like shukers and elytra. and I think we'll see some other changes to the emc world once we get empires if wilderness shops get allowed, which I expect. Like Winfield_Hancock, I'm quite new in the scheme of things so other than trying to make sure what we are wanting to accomplish, I'm not sure I have a ton to offer yet. I'm very interested in what this whole group may be working toward. Just one last thought, the thing I would love to see, which I can't see happening because someone is going to be burned, but what I would like to see is the ability to get loans in rupees. I mean I see just tons of issues with that because how do you know you can lend to and who you can't. I mean I could just stop playing tomorrow for any number of reasons. if I had borrowed a million rupees, how can the group/bank/person get that funds back.
First of all, welcome to the Empire Secondly, I would be curious to see where this goes and in what way I could be involved. I involve myself in the EMC economy and while I may not have 'a master's degree in finance,' I do have some experience/knowledge. Plus, I am always willing to involve myself in something that I might learn from. (Also, just want to say that my involvement would not represent the opinion of the EMC Staff team nor would it make this an 'official' EMC group, as it is still player ran )
Something selling high = OMFGDOGS!!11!one!1one!1eleven FARM IT ALL AND SELL IT!!!!!!! ---> extreme low prices *cough* beacons *cough* (I totally didn't do this with shulker shells.) I r8 8/8 for this forum.
Welcome! This Forum (and the game) can be a great win-win deal for economically educated: while they can provide high quality contributions, they can get very interesting insights in peoples behavior in a relatively unburdened, relaxed and quite free and natural setting (free trade, just natural laws, mostly younger people), something that is not that easy to get, neither in RL nor in scientific set-up economical games. Actually, no matter in which direction I look, I see benefits for everyone. "I play a game not because I don't have a life, but because I choose to have more than one." And it's fun. Let's find out. This question itself is a wonderful, interesting topic. I think there are many, so many that we'll need some brainpower, wisdom and organizational skills not to get lost in the forest of topics. And numbers. We'll definitely need numbers. Topics: How to reach new players? How and when to offer them information / education on EMC economy? Related topics: What types of new (and old) players do we have? What are their needs? Topic: Differences in economy between servers. I suggest again to start small and simple, find out what the needs are and try to meet them. Try to stay natural and economical. What does this (small?) economy need? What effort would make biggest gains? Topic: What services could a "Chamber of Economy" reasonably provide? Related topic: What are our numbers? My personal ideas: Lists of contacts (shops, producers), networking, recommendations for different activities (shop owners, farmers / mass-producers, builders), identify demand and supply, ... While "Chamber of Economy" should work on some recommendations, they shall give just that - recommendations. Not try to persuade anyone to do anything. Services shall develop as the economy develops. Like in MC, you start getting some wood and then some food, then you proceed to more complex advancements. One effect of the Forum and "Chamber of Economy" work could be (that's a wish) to open new areas of interest on EMC, to open new roles and opportunities. Economic Forum itself already opens new fields of activity, new "advancements". Topic: Significant recent and future changes and their impact on the economy. I'd also absolutely love to see development and opening of new opportunities. Naturally, some of the advancements can not be reached before one masters required advancements on the way. A great topic: The things we would love to see. Related topics: Advancements on the way. Let's find out!
