Freeman

IN BRIEF

Facebook "Virtual Currency" Good for Advocacy

DECEMBER 10, 2009

Filed Under : Inflation

“Health insurance industry trade groups opposed to President Obama’s health care reform bill are paying Facebook users fake money — called “virtual currency” — to send letters to Congress protesting the bill … Facebook users play a social game, like ‘FarmVille’ or ‘Friends For Sale.’ They get addicted to it. Eager to accelerate their progress inside the game, the gamers buy ‘virtual goods’ such as a machine gun for ‘Mafia Wars.’ But these gamers don’t buy these virtual goods with real money. They use virtual currency.” (Business Insider, Wednesday)

How bad does inflation have to be before ‘Facebook currency’ becomes accepted tender?

FEE Timely Classic:
The Great German Inflation” by Bruce Bartlett

comments powered by Disqus

EMAIL UPDATES

* indicates required

CURRENT ISSUE

November 2014

It's been 40 years since F. A. Hayek received his Nobel Prize. His insights, particularly on the distribution of knowledge and the impossibility of economic planning, remain hugely important today. In this issue, we look back on the influence of his work. Max Borders and Craig Biddle debate whether liberty must be defended from one absolute foundation, further reflections on Scottish secession, and how technology is already changing our world for the better--including how robots, despite the unease they cause, will only accelerate this process.
Download Free PDF

PAST ISSUES

SUBSCRIBE

RENEW YOUR SUBSCRIPTION