Valve on Steam Trade-Ins

An interview with Valve's Gabe Newell on Eurogamer talks with the Valve boss about a variety of topics, such as Counter-Strike: Global Offensive and the future of the company. An item of particular interest, as noted by GameSpot, is his answer to whether he foresees ever allowing gamers to trade-in used games on Steam. Here's his response:
We need to hire an economist, because we keep bumping up into these issues. You're starting to look at weird issues like currency and inflation and productivity and asset values and liquidity of asset categories. We just wish we were smarter about this stuff. We're reading frantically. We're brushing up, and all we're doing is convincing ourselves that we're more stupid. Half the time people are saying, oh, well, illiquid assets inherently have a penalty, so this argues for trade-ability, that we're essentially becoming a Russian currency model in the 1970s. Everybody races off to try to read papers on the implications of that.

We think we want to move in the direction where everything is an item of exchange. We just aren't totally sure how to do that right. We're sure there are economists out there who understand this really well. We feel like we're this third-world developing country. We've discovered rocks! And we've discovered sticks! And there's this other thing out there and we should move our economy in that direction. There must be somebody at the World Bank who can tell us what we ought to be doing. We just don't know what that is yet.
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Re: Valve on Steam Trade-Ins
Aug 27, 2011, 03:09
15.
Re: Valve on Steam Trade-Ins Aug 27, 2011, 03:09
Aug 27, 2011, 03:09
 
killer_roach wrote on Aug 26, 2011, 22:50:
Somnambulator wrote on Aug 26, 2011, 21:56:
The World Bank is the last organization i'd want helping me understand economics, let alone creating a market exchange for digital goods.

Then who, pray tell, would you want helping you construct a theoretical economic framework?

(Personally, I'd cast my lot with the Behavioral Economics people at Princeton or University of Chicago, but the World Bank people are no slouches in terms of economic modeling.)

Well they're certainly good at leading nations into indentured servitude if not virtual slavery. That being the case, yes, I'd rather borrow my money from Vinny the loanshark down the street than those pricks.

And yes, yes, yes, we all know you can't borrow forever...unless you're the U.S. - seemingly at any rate. However, the vast majority of us must go into debt from time to time. If we didn't our entire system of conspicupus consumption would collapse otherwise. heaven forbid we actully spend money on what we need versus what we want. Or, as that douche said in Boiler Room, "Everyone's got a Porsche, but no one has five dollars gas money."

I feel sorry for anyone who has kids right now because the next 25 years i going to see a fundamental shift in quality of life, and for most of us, it ain't for the better unless they start coming with some futuristic Star Trek shit.
"You have enemies? Good. That means you’ve stood up for something, sometime in your life."
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