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Monopoly was invented to demonstrate the evils of capitalism (2017)

bbc.com

61–70 of 374 posts

Re: Monopoly was invented to demonstrate the evils of capitalism (2017)

#61
post #37

[flagged]

Weird, France has been under socialist governments plenty of times since the 30s and we never experienced any of that. You might be thinking about communism.

Actually, an ironic communism game sounds like lots of fun.

Re: Monopoly was invented to demonstrate the evils of capitalism (2017)

#63
post #43
post #10

Monopoly teaches people a view of economics being a zero-sum game and too many people learn the wrong lessons from it. Real life isn't a zero-sum game.

The monopoly game is not zero-sum. Money increases when you pass start, and cards drawn are on average a source of money. In fact, the money owned by players inflates as the game goes on.

That's not real wealth though. The houses and hotels are the actual capital improvements.

The thing is, supply and demand seem not to matter in the housing market. If you land on Park Place you can't shop around for alternatives.

This might be retconned by saying that most housing is occupied and that's where you found a vacancy, but it's still pretty artificial. If the other houses are occupied then why isn't anyone getting any income from them?

Re: Monopoly was invented to demonstrate the evils of capitalism (2017)

#64
post #3

Earlier quoted context omitted.

The boardgame can be great fun especially if people follow the rules.

I've enjoyed adding more rules, such as the bank adding loans with interest, bank robberies, insurance and organised crime and other things to make it more like a role play game.

How did you work out things like (for example) bank robberies?

When the banker gets up to pee, you snatch some bills from the drawer? Or every X turns, roll for chance to hit vault-armor class 0?

Re: Monopoly was invented to demonstrate the evils of capitalism (2017)

#65
post #59
post #4

I love how everyone who wins at monopoly acts like a right arse to the other people and it turns out it was just rolls of the dice that decided if they won... I certainly always feel like I deserve to have won.

Believe it or not there is an element of strategy in Monopoly (or can be, if you take the time to learn it). Not all spaces are landed on equally, and not all properties have the same return on investment. Playing with common house rules tends to remove elements of strategy.

That is true, but the rolls of the dice still have vastly more influence on the outcome than the very limited decisions that players can make. In order to decide whether or not to buy Park Place you have to land on it first.

Not unlike real life.

Re: Monopoly was invented to demonstrate the evils of capitalism (2017)

#66

Monopoly was meant to show the benefits of Georgism - essentially a flat-value land tax. Georgism is not opposed to capitalism. In fact, Adam Smith himself advocated a similar tax. So did Keynes, Friedman- nearly every economist. However, it is likely that Elizabeth Magie herself didn't quite understand this - the Georgist set of rules in the Landlord's game doesn't quite match what Henry George was proposing. George…

Henry George was more or less opposed to our current conception of capitalism. He believed all land and narual resources should be held in common. He stated that a person should be entitled to the product of their personal labor and that was about it.

But being a practical man he realized the horse was well out of the barn on private ownership of land and felt that a land value tax was essentially the next best thing. He maintained collective ownership of natural resource beside land though.

Re: Monopoly was invented to demonstrate the evils of capitalism (2017)

#67
post #10

Monopoly teaches people a view of economics being a zero-sum game and too many people learn the wrong lessons from it. Real life isn't a zero-sum game.

as the article points out the game was in particular desgigned to show the economic effects of private land rent, hence the original title 'the landlord's game', and that is in fact a zero sum game as they aren't making any more of it. And in particular on tech websites like these people vastly overstate how non 'zero-sum' economic activity actually is mostly because tech has been in a bubble of highly anomalous grow…

And yet we are 30x richer per person in a 10x bigger population since the Industrial Revolution started.

That is 300x more than a zero sum model would predict.

Re: Monopoly was invented to demonstrate the evils of capitalism (2017)

#68
post #43
post #10

Monopoly teaches people a view of economics being a zero-sum game and too many people learn the wrong lessons from it. Real life isn't a zero-sum game.

The monopoly game is not zero-sum. Money increases when you pass start, and cards drawn are on average a source of money. In fact, the money owned by players inflates as the game goes on.

Don't the rules of monopoly guarantee all players but one go bankrupt?

Re: Monopoly was invented to demonstrate the evils of capitalism (2017)

#69

Earlier quoted context omitted.

As the title implies, the game was designed to be a lot like real life, and it sounds like that from your POV it has succeeded.

Reminds me of the story of the lucky coin: > If 1024 fair coins are each tossed 10 times, chances are good (> 63%) that at least one will come up heads 10 times in a row; and that coin will be proud to explain how its skill, faith, guts & determination made its achievement possible, and how that combo can work for you too. https://twitter.com/bayesiangirl/status/1214753289528434688?...

And the 1,048,576 other coins who never tried to flip, because they knew that getting 10 in a row was just luck, will live lives of quiet desperation.

Re: Monopoly was invented to demonstrate the evils of capitalism (2017)

#70

I've always used Monopoly as a good way to explain inflation. If you play by the stated rules in the game, any property landed on goes up for auction to all players if the current player doesn't want to purchase it. Imagine what happens to the purchase price of properties in this scenario if every player started the game with 10 times more money...

I've always used it as a business negotiations lesson.

The winner of the game is often the person who makes the most deals to secure the most property monopolies.

The KEY lesson is that you can trade "down" as the loser of every single deal, and yet still win by virtue of the fact that you've made the MOST deals.

Making deals captures untapped value. There's actually a LOT more strategy to Monopoly than the people in this thread realize.

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