I don’t play a lot of electronic games, but have recently been enjoying the Electronic Arts release of Monopoly on my iPhone. For some reason, Electronic Arts is pulling the game from the Apple iOS application store tomorrow, but if you already have it on your device it should continue to work until an operating system upgrade renders it unusable.
Playing a physical Monopoly game with other people tends to be a once-in-a-while event. Playing it on your phone, against software opponents, you can play it over and over and the lessons in the game can become obvious. What can we learn from Monopoly?
- Owning income-generating assets is a very good thing. Some assets (like Boardwalk) generate more income than others (like Baltic Avenue), but even so, it is far better to have some sort of assets than none at all.
- Likewise, owning many assets is better than owning few. The more you own, the more likely someone will make use of what you have and pay for it. But again, it is far better to have at least some assets than none.
- Obtaining and developing assets (like buying a property and building houses on it) may be expensive, but that expense is well worth it once it starts generating income.
- Wage income (like collecting a paycheck as you pass “Go”) is nothing compared to asset income. You may need some of your wage income to pay bills, but put as much as possible into obtaining and developing assets.
- Others who own assets might be willing to sell them for cash. Or they might only want another asset in return. Either way, it doesn’t hurt to ask, and you can probably come up with a deal that adequately benefits both of you.
- Taxes are really annoying if all you have is wage income. (You can pass “Go”, collect $200, and land on “Income Tax”, and pay $200!) If you have asset income, taxes feel like just part of doing business.
- Paying rent to others is really annoying if all you have is wage income. (You can land on a property with a hotel and instantly be out $1500!) If you have asset income, it’s no big deal, because the other players are paying you rent too. (You will quickly recover the $1500 that you paid.)
In the real world, developing properties into houses and hotels is literally a great method of building assets. But there are lots of things that can be assets: books, music, training videos, computer software, and more. On the other hand, while all possible assets in Monopoly are at least somewhat desirable, in the real world it’s entirely possible to own or to create things that nobody actually wants!
Electronic Arts has a fine rendition of Monopoly for iOS here. They sell if for 99 cents, and, with the Apple family sharing plan, up to five people can play the game indefinitely for that initial 99-cent sale. I don’t know why they are pulling the game, but regardless of the reason, maybe Electronic Arts could have made the game into more of an asset for themselves! People often sell iOS applications for dirt cheap, but this one is easily worth several times what they were charging.