Capitalism Simulation
Test 2: Report on Capitalism Simulation Game
On February 20th, 2014, in Values in the Workplace, we played a game simulating capitalism. The goal of the game was to get into teams; each team had a certain amount of the same resource. These resources could be traded and bought from one another, with a goal of creating “Widgets”. These widgets are then bought from the consumer. The team, who ends up with the most amount of money, wins the game.
The strategies that arose during the simulation were common to strategies that we discussed in class. These include, limiting resources, appealing to self- interest and merging companies to create higher profit.
To begin, the different companies were: metals, plastics, labor, transport and fasteners. The team that I was on was the transport team. We used the limited resource strategy; this meant that we did not trade any more than we needed to. Once we had what we needed to make a good amount of money, we shut down all deals and kept our resources to ourselves. We did not make any trades that disadvantaged us. We stopped all sales until everyone else had no widgets to sell left. This left us with the opportunity to sell our widgets at full price. Transport holding back, and not trading or selling, caused a lot of irritation within the other companies towards us.
Many teams used the strategy of appealing to self-interest. Almost all of the teams would begin with the same question “what are you looking for?” from there we would respond with the same question. From there, a deal would be made that benefited both groups. Some teams would be sure that they had a higher benefit for themselves, and if this was not the case m than they would back out and not make the trade which was in their self-interest.
In the end, there was a move made that turned the whole game around. Since the Transport team was holding all of their resources in order to sell the widgets at 100% value, the other teams decided to make a move that had net
On February 20th, 2014, in Values in the Workplace, we played a game simulating capitalism. The goal of the game was to get into teams; each team had a certain amount of the same resource. These resources could be traded and bought from one another, with a goal of creating “Widgets”. These widgets are then bought from the consumer. The team, who ends up with the most amount of money, wins the game.
The strategies that arose during the simulation were common to strategies that we discussed in class. These include, limiting resources, appealing to self- interest and merging companies to create higher profit.
To begin, the different companies were: metals, plastics, labor, transport and fasteners. The team that I was on was the transport team. We used the limited resource strategy; this meant that we did not trade any more than we needed to. Once we had what we needed to make a good amount of money, we shut down all deals and kept our resources to ourselves. We did not make any trades that disadvantaged us. We stopped all sales until everyone else had no widgets to sell left. This left us with the opportunity to sell our widgets at full price. Transport holding back, and not trading or selling, caused a lot of irritation within the other companies towards us.
Many teams used the strategy of appealing to self-interest. Almost all of the teams would begin with the same question “what are you looking for?” from there we would respond with the same question. From there, a deal would be made that benefited both groups. Some teams would be sure that they had a higher benefit for themselves, and if this was not the case m than they would back out and not make the trade which was in their self-interest.
In the end, there was a move made that turned the whole game around. Since the Transport team was holding all of their resources in order to sell the widgets at 100% value, the other teams decided to make a move that had net