Posted December 14, 2017 Hey, folks! So this looks like a pretty interesting project, I've been a backer for a couple of years now. It seems the devs have very ambitious plans for this game and its mechanics. It seems they have talked about everything from business, real estate, the job market, crime, entrepreneurship etc. There is, however, something I haven't seen been discussed much, at least not on the forums. What am I refeering to? Well, quite frankly my post is about the economy of Identity. Now, as a big fan of economics, I clearly understand the depht and complexity of our modern economy, of the real world , that is. I do, however, have some inquiries about how the economy of this game will function. Will there be several currencies (with different exchange rates etc.)? Will there be a stock market and publicly traded companies? How will investments work, if possible to invest? Will there be a nominal interest rate, and, with that, a rate of inflation? How about government spending and debt? Will the unemployment rate affect the overall economy? Will there be business finance? Maybe you need to hire an accountant to keep track of revenue and expenses. Generally, how will economics work in this game? I would really hate for it to just be money showing up in your bank and that's it. It would be cool to see a much more complex economy than in games such as GTA 5. Maybe someone with some insight could inform me a bit. Thanks _) 2 Share this post Link to post Share on other sites
Posted December 14, 2017 1 hour ago, patrick1333 said: Hey, folks! So this looks like a pretty interesting project, I've been a backer for a couple of years now. It seems the devs have very ambitious plans for this game and its mechanics. It seems they have talked about everything from business, real estate, the job market, crime, entrepreneurship etc. There is, however, something I haven't seen been discussed much, at least not on the forums. What am I refeering to? Well, quite frankly my post is about the economy of Identity. Now, as a big fan of economics, I clearly understand the depht and complexity of our modern economy, of the real world , that is. I do, however, have some inquiries about how the economy of this game will function. Will there be several currencies (with different exchange rates etc.)? Will there be a stock market and publicly traded companies? How will investments work, if possible to invest? Will there be a nominal interest rate, and, with that, a rate of inflation? How about government spending and debt? Will the unemployment rate affect the overall economy? Will there be business finance? Maybe you need to hire an accountant to keep track of revenue and expenses. Generally, how will economics work in this game? I would really hate for it to just be money showing up in your bank and that's it. It would be cool to see a much more complex economy than in games such as GTA 5. Maybe someone with some insight could inform me a bit. Thanks _) Hey Thanks for pledging and supporting us! 1. There is only 1 currency. 2. There is a form of stock market in the game, you will just purchase stock and will be able to view it either rising or falling. 3. Don't believe there is any interest rates. 4. Government spending isn't actually a thing, while we have a government in the game, people are paid by completing actions or tasks, and the governor can change laws, no actual spending. 5. Unemployment rate will not affect the economy solely because people will be able to make money no matter what they choose, it just ranges from different quantities, also, everyone will get a hotel room if you haven't pledged or bought an apartment. Although, this hotel room is pretty limited to what you can do and you cannot customize it. 6. You can hire an accountant but it's up to you to pay them, there's not really a job itself in the game available, but you can always hire your own in which you would pay them yourself, no automatic payments. 1 1 Share this post Link to post Share on other sites
Posted December 15, 2017 (edited) 23 hours ago, HairyGrenade said: Hey Thanks for pledging and supporting us! 1. There is only 1 currency. 2. There is a form of stock market in the game, you will just purchase stock and will be able to view it either rising or falling. 3. Don't believe there is any interest rates. 4. Government spending isn't actually a thing, while we have a government in the game, people are paid by completing actions or tasks, and the governor can change laws, no actual spending. 5. Unemployment rate will not affect the economy solely because people will be able to make money no matter what they choose, it just ranges from different quantities, also, everyone will get a hotel room if you haven't pledged or bought an apartment. Although, this hotel room is pretty limited to what you can do and you cannot customize it. 6. You can hire an accountant but it's up to you to pay them, there's not really a job itself in the game available, but you can always hire your own in which you would pay them yourself, no automatic payments. In response to the fourth statement, the developers confirmed that government agents shall be capable of utilizing the revenue that is generated through taxation to engage in investments, such as subsidies for businesses that benefit the economy. I had memorized a statement indicting that governors could conduct theft on the taxpayer's reserves. Thus, it could be applied to subsidies or government spending. Edited December 15, 2017 by DLimit 1 Share this post Link to post Share on other sites
Posted December 15, 2017 49 minutes ago, DLimit said: In response to the fourth statement, the developers confirmed that government agents shall be capable of utilizing the revenue that is generated through taxation to engage in investments, such as subsidies for businesses that benefit the economy. I had memorized a statement indicting that governors could conduct theft on the taxpayer's reserves. Thus, it could be applied to subsidies or government spending. Correct, but it won’t be in a way where you can accumulate debt. Share this post Link to post Share on other sites
Posted December 16, 2017 6 hours ago, HairyGrenade said: Correct, but it won’t be in a way where you can accumulate debt. Hmm. In almost every modern economy currency is created out of debt and lent out with the application of interest (there is interest due on every dollar). When the government needs money, they just auction federal bonds and promise to pay back with interest and thus currency is created. Tax revenue destroys credit (debt), which is also currency. Defecit spending is a huge part of how the economy develops, but you won't be including it in the game? Share this post Link to post Share on other sites
Posted December 17, 2017 On 16/12/2017 at 12:19 AM, patrick1333 said: Hmm. In almost every modern economy currency is created out of debt and lent out with the application of interest (there is interest due on every dollar). When the government needs money, they just auction federal bonds and promise to pay back with interest and thus currency is created. Tax revenue destroys credit (debt), which is also currency. Defecit spending is a huge part of how the economy develops, but you won't be including it in the game? You can go bankrupt but you can't get debt. Share this post Link to post Share on other sites
Posted December 17, 2017 5 hours ago, LuckyDuck said: You can go bankrupt but you can't get debt. Oh wow. That is really surprising actually. Oh well thanks for the heads up Share this post Link to post Share on other sites
Posted December 18, 2017 15 hours ago, patrick1333 said: Oh wow. That is really surprising actually. Oh well thanks for the heads up I meant as you could spend all your money in the bank and have $0 money left (Personal money). 1 Share this post Link to post Share on other sites
Posted December 18, 2017 6 hours ago, LuckyDuck said: I meant as you could spend all your money in the bank and have $0 money left (Personal money). Ah, that makes more sense Share this post Link to post Share on other sites
