The Macroeconomics of Smaug

Wunderbare Serie von Postings, zusammengefasst beim New Statesman, über den Makroökonomischen Effekt von Smaugs Goldraub an den Zwergen, die den Aufstieg Saurons unter anderem auch damit erklären, dass nach Smaugs Tod und die Rückführung des Zwergenschatzes in den Wirtschaftskreislauf eine Hyperinflation einsetzte. Ich liebe diesen Scheiß!

The Macroeconomics of Middle Earth: The full economic impact of Smaug can only be understood by recognizing that the dragon's arrival resulted in a severe monetary shock… It is clear from a simple inspection… that the amount of gold coinage Smaug withdrew from circulation represents a significant volume of currency. This would, inevitably, lead to deflation and depressed economic activity.

Bond Vigilantes' Jim Leaviss contributes his own thoughts on the monetary impact of a Wyrm:

So Smaug dies in the end, and the gold was released into Middle Earth’s money supply. Was there hyper-inflation as a result? Or did Nominal GDP return to trend (i.e. the “catching up” theory that has been talked about by Central Bankers like Mark Carney lately) without longer term inflation problems? If there was hyper-inflation perhaps the political instability that resulted allowed the rise of Sauron as a leader, and the subsequent world war between Men and Elves, and Orcs?

Smaug the dragon's monetary tightening – The Hobbit and macroeconomics (via MeFi)

Vorher auf Nerdcore:
Calculating Smaugs Treasure