Starfield's WORST Glitch

Value is subjective; one man’s trash is another man’s treasure. But... five apples for one spaceship?

Considering the abundance of apples and the comparatively scarce ship modules, one would expect the latter to be more expensive than five apples. In microeconomic theory, economists refer to this relationship as the “marginal rate of substitution.”

How does the market arrive at a single price for a good that reflects the rate of substitution between all goods in an economy? In the Use of Knowledge in Society, Nobel laureate Friedrich Hayek explains that market-based prices express exactly this information: namely, aggregate demand and supply of a given good.

Starfield unintentionally demonstrates the knowledge problem that plagues centrally-planned economies; they lack a “discovery process” to determine prices that communicate consumers’ preferences.

Interstellar travel has perfect equations that describe a ship’s motion through the cosmos; real prices, on the other hand, literally cannot be derived without participation in the market. Bethesda can't invent an economy on paper any better than the Soviets could.

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Видео Starfield's WORST Glitch канала Foundation for Economic Education