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"Bloomfield is working on a platform, called the Synthetic Economy Research Environment, that could enable economists to produce games that simulate large-scale economic phenomenon like a central bank." I often wondered whether professor Robert Bloomfield (Johnson School of Management at Cornell University) was still involved in virtual worlds research. He was the charismatic host of the rather high-brow Metanomics talk-show in Second Life. Now I got my answer, via Brad Plumer who published a post about the economics of video games on Wonkblog at The Washington Post. 

I can take a photo of a check and deposit it in my bank account, then turn around and find a new book through a Twitter link and buy it, all while being surveilled by a drone in Afghanistan and keeping track of how many steps I've walked. The question is, as it has always been: now what?

Joseph Stiglitz explains how the Great Depression is caused by the revolution in agriculture. We're facing a similar shift now in the "real" economy.