How virtual are virtual economies? An exploration into the legal, social and economic nature of virtual world economies

Virtual world economies are undoubtedly increasing in growth, participation and importance. Their macroeconomic impact has already been seen as important in the real world economies; however its governance and jurisdiction is unclear. This paper will argue that virtual economies are not actually as virtual as they first appear to be. Secondly the paper argues that because of the real world effects and impacts virtual world economies can have, they should be applicable to real world jurisdictions and regulations. The question that is therefore posed is in which jurisdiction should the legal backbone be placed? The paper will be divided into several parts. Firstly, a background of what virtual worlds are, and what they mean in linguistic definition. Secondly, a review of law economics and history shall be considered to determine that what is once considered ‘other worldly’ is accepted as the norm. Thirdly, the paper will consider a virtual world economy, namely that of Second Life to establish the real world impacts that virtual world economies can have. Fourthly, the paper will consider two case studies of financial crisis occurring in the virtual worlds and the synergies we can draw from the real world. Finally, the paper will conclude with the proposition that legal governance is required and will enable what is already a lucrative business to flourish further within the realms of possibility and not virtually.     

Opinion Backlash and Public Attitudes: Are Political Advances in Gay Rights Counterproductive?

One long‐recognized consequence of the tension between popular sovereignty and democratic values like liberty and equality is public opinion backlash, which occurs when individuals recoil in response to some salient event. For decades, scholars have suggested that opinion backlash impedes policy gains by marginalized groups. Public opinion research, however, suggests that widespread attitude change that backlash proponents theorize is likely to be rare. Examining backlash against gays and lesbians using a series of online and natural experiments about marriage equality, and large‐sample survey data, we find no evidence of opinion backlash among the general public, by members of groups predisposed to dislike gays and lesbians, or from those with psychological traits that may predispose them to lash back. The important implication is that groups pursuing rights should not be dissuaded by threats of backlash that will set their movement back in the court of public opinion.     

The Quality Assurance Agency and the Politics of Audit

Audit is an increasingly ubiquitous feature of academic life with the Quality Assurance Agency to the forefront in its implementation. This article argues that, far from being an objective assessment of the quality of learning and teaching in universities, the Quality Assurance Agency's audit role relates to political attempts to change the educational agenda of universities and alter the nature of academic life.     

The Privatization of Security: Lessons from Iraq

Images of private forces in Iraq—killed and mutilated in Fallujah, implicated in prisoner abuse at Abu Ghraib, and shooting up civilian vehicles—have provided a dramatic illustration of the role private security companies (pscs) now play in U.S. military operations. Though the United States’ use of contractors on the battlefield is not entirely new, the increased number of contractors deployed and the use of private security forces to perform an escalating number of tasks has created a new environment that poses important trade-offs for U.S. policy and military effectiveness and for U.S. relations with other states. This article outlines the history of U.S. contractors on the battlefield, compares that with the use of private security in Iraq, discusses the benefits and risks associated with their use, and proposes some trade-offs that decision-makers in the United States should consider while contemplating their use in the future.