The Gaming Den

Temple of the Fiscally Irresponsible Elves
A D&D Campaign featuring Fiscal, Monetary, and Trade Policy

Game has begun: Link to Temple of the Fiscally Irresponsible Elves In Character thread: Here.



The Temple of the Fiscally Irresponsible Elves is a series of linked adventures that take place in the region of Central Derpistan, where several nations are currently experiencing economic catastrophes with very different causes that must be addressed in very different ways. Levels of government debt, inflation, and trade; as well as systems of money and banking are quite different in the different countries, but the common reality for all is that standards of living are falling and real production is grinding to a halt.

Derpistan is divided in Eastern, Central, and Outer Derpistan, which are further divided into nation states. The three sub-regions are separated by formidable natural barriers, and all or most of the campaign is expected to take place in the six nations of Central Derpistan:

• Llanaden: A nation of Elves with a currency based on fairy gold (specially enchanted leaves). Inflation is out of control, and the real economy is in free fall as even small purchases require double armloads of fairy gold.
• Thorigram: A nation of Dwarves with a currency based on real gold. Inflation is out of control, and the government's treasury continues to bleed dry despite harsh spending cuts by the king.
• Zundun: A nation of Gnomes where most trade is conducted in bank notes. The financial system has collapsed, taking much of the real economy with it.
• Korbahl: A heavily forested nation of Orcs that trades wood, fur, and other harvested resources for goods and services from outside. The prices of many of their exports is lower now than in the recent past, and now many loggers and hunters are out of work.
• Lolthwyr: A nation of Dark Elves with a strong guild structure. The cobbler's guild closed its doors, and burghers are being furloughed right and left.
• Sweland: An agricultural nation where almost all of the population are Halfling land holders. Land has been divided and subdivided and per capita output has fallen.

It is perhaps important to note that no country is truly homogeneous. A nation of Dark Elves is called that because a majority of the population are Dark Elves. But there will still be 15-35% of the population who are of other races.

Portions of the description of each nation have been spoilered to facilitate players of characters who have different knowledge skills starting with different amounts of information. Readers who do not intend to play in the game may of course avail themselves of any of the entries. The “Before” sections will be available to characters who make a History Knowledge or Local Knowledge test. The “After” sections will be available to characters who make a Local Knowledge or Gather Information test. And the “Analysis” sections will be available to characters who unlocked both the “Before” and “After” sections for that country and then succeeded on an Appraise test. Characters may be actually from one of the nations in Central Derpistan, and may choose to automatically succeed on one of the tests related to their homeland.

“What if wishes actually were horses?”



The nation of Llanaden uses a currency based on enchanted leaves. Each enchanted leaf appears to be a golden coupon with a value in Llanaden Ash written on it. The original denominations were 1, 5, 10, 50, and 100 LlA, but those leaves have no meaningful buying power unless they are collected in giant stacks. Nowadays, the treasury scarcely bothers enchanting anything less than a one hundred thousand Llanaden Ash note.

• Inflation: High
  Government Debt: Low
  Unemployment: Devastating
  Export Status: Surplus

Before

The Kingdom of Llanaden is having an economic boom. Resources are being put to work at a rate once thought impossible, and all throughout the capital can be heard sounds of construction.

The taxes of the Kingdom of Llanaden must be paid in Llanaden Ash notes, but the state creates many more of these notes than they take back through taxation. The notes are distributed into society through the medium of the government purchasing unclaimed goods and hiring otherwise unemployed Elves to do tasks. In this manner, currency is placed into the hands of people who can then spend it, and the Kingdom is enriched both in material wealth and in the creation of infrastructure and public art.

After

Every day prices change, and every day prices rise. Those whose work does not give daily pay raises must quickly abandon their contracts as untenable. Inflation is simply out of control, and people are afraid.

Analysis

Llanaden's past sluggish economy was “solved” by creating new money literally by magic. The boom Llanaden experienced was simply moving from an equilibrium with lower employment to an equilibrium with higher employment. And had policies changed when full employment was reached, it might have stayed that way. Unfortunately, the government continued creating more currency after full employment had been reached, and the additional currency was unable to put appreciably more resources to work. Instead, inflation began rising, discounting the value of everyone's savings and long term contracts.

As inflation continued to rise, expectations of inflation became “baked in”. People assumed that prices would continue to rise faster and faster (because that had been their experience), and so they increased their asking prices for goods and services without even looking at how much money is getting added to the system. Prices have continued to rise exponentially, even as the nominal value of the money in circulation has grown merely quadratically.

At this point, it's not even possible for currency to be enchanted in sufficient quantities to keep all the balls up in the air. Prices are being changed every day by people who have little information, and any announcement of an increase in money creation would be met with an uneven acceleration of the process.

“We now have the worst of both worlds. Not just stagnation or inflation, but both together in one goblet.”



Thorigram is a kingdom of Dwarves known for great craftsmanship and mining ability. The currencies of the realm are gold, silver, and copper coins minted by the King's treasury as precious metals are brought to it. The mining guild has become extremely rich of late, but the buying power of precious metals has fallen precipitously, impoverishing people in all other sectors of the economy. Taverns are empty, and the shelves of stores are bare.

• Inflation: High
  Government Debt: High
  Unemployment: Devastating
  Export Status: Deficit

Before

Thorigram's coins are the defacto currency of all of Derpistan. A coin minted with the face of a Dwarven king is unsurpassed in purity and accuracy of weight. The miners dig up metals, subject them to the King's appraisers for purity testing, and coins are minted from metal of the highest quality. These coins are then spent, financing private enterprises which then continue circulating them to finance other private enterprises and keeping the economy whistling to work.

After

Inflation has crept into prices within the last few years, and it's rather perplexing as to how or why this can happen, as all prices are denominated in precious metals. The chasm between a rich Dwarf and a poor Dwarf is widening. The Crown's tax revenues are not keeping up with the rising prices and the treasury is going into debt.

While the purchasing power of Dwarven gold is falling in Thorigram, the strength of that gold is not much diminished when measured against the currencies of other countries. Goods from outside Thorigram are looking to be positively inexpensive.

Analysis

While the new coinage enters society in an incredibly uneven fashion (coming as it does almost entirely in the hands of the miners), there is a lot of it in circulation. And really a lot of it (relatively speaking) is in a relatively few hands. These “have” Dwarves are in a position to bid up the prices of goods, services, and real estate in order to ensure that they get what they want, and this drives up the overall price point of all of these things. This in turn makes more things unaffordable to “have not” Dwarves, which causes them to reduce their consumption. Reduced consumption by “have not” Dwarves more than negates the gains to the economy by the increased consumption of the “have” Dwarves, and the end result is that price points are rising and real production in most sectors is falling to match the reduced consumer demand.

Secondarily, while the exchange rates between Copper, Silver, and Gold are fixed at 100:10:1 by law, the market value would be more like 80:9:1 according to demand and scarcity alone. This means that when people spend gold they are getting a “better deal” than when they spend silver (which in turn is a better deal to buy things with than copper). This has pushed copper and silver coins out of circulation and into closets, causing smaller prices to become unwieldy and accelerate price increases as more and more prices get upped to multiples of gold.

Thirdly, trade imbalance is exacerbating the unemployment issue. An excess of gold coins is not currently felt elsewhere in Derpistan, meaning that demand for Thorigram coinage hasn't diminished much. This means that the amount of goods that can be bought from Llanaden or Sweland relative to the amount of goods that can be bought from within Thorigram for the same amount fo gold is considerably more than it used to be. This decreases demand for domestic goods, which leads to more manufacturing workers being laid off.

“As long as financial stability is maintained, all things are possible.”

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Zundun is a heavily bureaucratized economy with a large financial sector. The currency are notes that are issued by banks that are nominally and obscurely backed by some share of that bank's assets, which in turn are mostly claims to partial ownership of land, productive capital, or intellectual property. It's all very complicated. Recently one of the major banks (Badger & Foonwhist) ceased to exist after a revaluation of some of its property left it with more obligations than assets. This demonetized lots of currency and caused panic in Zundun. The government has since promised to provide bridge loans to the remaining banks for the duration of the crisis.

• Inflation: Negative
  Government Debt: High
  Unemployment: High
  Export Status: Balanced

Before

The banking sector of Zundun is a marvel. Resources are allocated precisely and efficiently, and entrepreneurship is encouraged. The risks of new businesses are borne partially by those with the idea and partially by the banks that finance them. The banks insulate themselves from these risks by distributing ownership of the debt and responsibility for its potential failure between themselves. Thus, some businesses fail and others succeed, and the financial sector is insulated from the failures. This allows more risk taking and faster economic growth than would otherwise be possible, while nullifying the negative effects of shocks from business failures.

After

Routine bank audits demonstrated that the balance sheet of Badger and Foonwhist had negative real value, and so it was dissolved as a routine bankruptcy. That proved anything but routine, because it turns out that nearly one in twelve Zundunian Zlotys was guaranteed by Badger and Foonwhist. The resulting currency contraction had knock down effects throughout the economy and the government stepped in to guaranty further banks to prevent collapse from contagion. This has sparked a new round of deeper audits to determine exactly what every institution owns and owes, and the process seems like it may take a while to sort out. In the meantime, the government has taken on a lot of debt, though no one is yet sure of how much, and the real economy has suffered a huge blow. Unemployment has risen sharply and does not appear to be bouncing back, investment is low and new jobs are not being created. The velocity of money has slowed to a snail's pace.

Analysis

The Zundun banking system relied upon bundling risky assets (such as ownership shares of companies, debts that had yet to be paid, or goods that had not yet been produced) and distributing shares of the bundled assets to different banks. The bundling was supposed to allow the averaging out of the assets that turned out to be good with the assets that turned out to be bad, while the distribution of ownership shares was supposed to make it so that no individual bank would be hurt too badly to continue functioning even if more assets turned sour than expected.

While there is something to be said for distributing risk through the expedient of insurance, the Gnomes of Zundun treated the risk as if it had stopped existing. Obviously, it had not. Risky assets treated as “safe” proliferated throughout the economy, being used to at least partially back the writing of most of the bank notes in the economy; and when things started to go sour, a tremendous amount of the wealth was wiped out or called into question.

The actual details of what caused the massive revaluation are only interesting in that they are totally uninteresting. A crop of sorghum failed, a resort town became less fashionable, people stopped using hair bobbles as much, and so on. Nothing in the list of setbacks seems capable of bringing down an advanced economy because it is all minor events which were each considered as possible in the self assessments of the banks. Only in aggregate is the shock large enough to cause significant damage to a bank. And the damage itself should not have been enough to bring down any bank, but it turns out that the banks weren't operating as if they had risk in their portfolios at all and weren't holding safe assets as a hedge.

Things really went poorly when Badget and Foonwhist went under. Not only did that leave ownership of a great deal of property up in the air, it flat demonetized a lot of the bills people were carrying in their sporrans and shook confidence in all the rest. With liquidity in desperately short supply and the amount of currency in circulation suddenly considerably reduced, disinflation has become the law of the land. Seeing the panic, the government felt constrained to save the rest of the banks, which has stopped the outright freefall of the economy but has in no way put the economy towards any kind of rapid recovery.

“The forest provides. Your needs and your fears.”



Korbahl is a heavily forested region that is largely under the control of a country of the same name. Thus, it is grammatically appropriate to refer to the country as “The Korbahl”. Most of the population are Orcs, and the region is known for its fine wood, strong spider silk, kerosene, nuts, and pigments. There are few cities in The Korbahl, and the country imports most manufactured goods. Recently, the price of Korbahlian goods has fallen, and lumber and silk can be had quite cheaply.

• Inflation: Normal
  Government Debt: High
  Unemployment: High
  Export Status: Deficit

Before

The Korbahl is a marvel of comparative advantage. Having negotiated trade agreements with their neighbors, the Korbahlians have shifted almost all of their productive labor towards tasks that they enjoy efficiency advantages in, making up the rest of their needs through commerce. Rising prices in lumber, spider silk, and kerosene especially have pushed up harvesting of these materials and filled the Directorate's coffers. Standards of living are rising based on incoming foreign currency, employment is rising driven by the highly productive forestry sector. Businesses in sectors that cannot compete with foreign goods are pushed out of business, but the low unemployment level ensures displaced workers quickly find work in other sectors.

After

The first sign of trouble was the announcement by Duraweb, the nation's largest spider silk firm, that they did not have enough cash on hand to make payroll. The Directorate stepped in to loan them the money, but nonetheless it was decided that many workers had to be let go. Rapidly, many other firms followed suit, going to the Directorate with cap in hand and slashing their employment rolls. People have begun questioning whether the government is itself good on the guarantees it has been making, and the state's borrowing costs have begun to rise. Unemployment is rising and shows no sign of slowing, GDP is falling like a tree in the forest (and everyone is around to hear it fall), and debt levels are rising to unsustainable levels.

Analysis

The Korbahl exports things that are primarily used in the supply chains of the industries in other nations. Economic problems abroad reduce the demand for Korbahlian raw materials, which reduces the price that Korbahlian producers can get for their goods. With lower prices on Korbahlian goods, many businesses that were over extended have run into liquidity problems which the government has attempted to patch with bridge loans. With less money coming in, the government's tax revenues have fallen sharply. The combination of sharply higher cash outlays to try to keep failing industries afloat and sharply lower tax revenues with lower overall GDP has caused a dramatic increase in the debt to GDP ratio.

Ultimately, Korbahlians need a market for the things they produce. Recovering economies elsewhere will certainly help, but they could also create domestic markets or shift production to different things that are in demand. Whatever happens, The Korbahl would be more stable and less subject to foreign demand shocks if it had a more diversified economy.

It is important to note that while The Korbahl's public debt is on an unsustainable trajectory, it is not at an unsustainable level. If the bailed out companies returned to profitability and paid back their loans, public debt would all but disappear.

“But what are our children to do; are they to be brought up in idleness?”

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Lolthwyr is a stygian nation with a rigid class structure dominated by guilds. People are apprenticed at an early age, and the guilds set prices and work quotas. The Cobbler's Guild has recently collapsed, and people are facing work slowdowns and furloughs in almost all other guilds.

• Inflation: Near Zero
  Government Debt: Low
  Unemployment: High
  Export Status: Surplus

Before

Lolthwyr's society is structured by a number of guilds. Each guild negotiates for everyone within a profession, and anyone who wishes to work within a profession must join that guild and follow that guild's rules. Contracts for work of all types are standardized and fair, and the time required to get new work done is very low (provided you are willing to abide by the standardized pricing systems already employed). Each Dark Elf gets vocational training within their guild starting from a young age, and Lolthwyran worker productivity is quite high.

After

Many people blame the current crisis on the mechanical stitcher. It is a machine powered by a treadle that increases the speed and strength of a worker's passing of a needle through leather or cloth. Shortly after the introduction of this device, the number of people employed by garment industries dropped precipitously. Shortly after that, the amount of work available to other guilds dropped noticeably, which has caused slowdowns, redundancies, and furloughs.

Analysis

The rigid guild contracts of Lolthwyr are ill-equipped to adjust to rapid change. The increased productivity brought by the mechanical stitcher considerably reduced the amount of Drow-hours that needed to be spent in garment related tasks. Production per worker increased dramatically, but without any way to shift to greater consumption of clothing or to shift workers to other industries, the result has been a dramatic increase in unemployment followed by a dramatic decrease in demand. The garment industries have drastically cut their labor pools and all other industries have scaled down production to cope with the reduced number of customers.

Ultimately, Lolthwyr will need to create a new set of contracts which are compatible with the higher productivity that will come from mechanization (and which for the garment industry, has already come). At the very least, new institutions will have to be created that can allow for such contract adjustments to happen in the future. In the more immediate sense, something has to be done with all the idle hands before things turn really ugly.

“Specialization is for Insects.”

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Sweland is a region more than a country. Each family homestead is a freehold, owing no allegiance to any other. The Halflings of Sweland have been proud and free for hundreds of years, but the current generation is simply poorer than their parents. The ways of doing things haven't apparently changed, but now poverty has run amok and Halflings are beginning to emigrate en masse.

• Inflation: Negative
  Government Debt: None
  Unemployment: Low
  Export Status: Balanced

Before

The Halflings of Sweland are not individually wealthy, but they are happy and their lives are stable. Each Halfling family owns their own patch of land and performs most tasks within the household. The Swelanders acknowledge no kings or lords and each person is expected to take responsibility for their own needs.

Swelanders do not pay taxes during life, and are able to divide their lands among their heirs in death. The Grand Duke of Sweland doesn't have any feudal obligations to other Swelanders and does not have rights to raise levies save for when emergency war powers are invoked. And those haven't been invoked for three generations, and many Swelanders don't know that such an obligation even exists.

After

“There are more farms now than there were a year ago.” This has been true every year for the past forty years. But the production per farm has fallen over the same period. Each Swelander and all of their children are poorer than their grandparents and parents were.

Sometimes lands are divided among a Halfling's heirs such that none of the children get enough land to live on, which creates an uncomfortable choice. Sometimes the result is starvation, sometimes one or more of the children leave Sweland altogether in order to keep the lands from being further divided. It is an ominous omen.

Analysis

Sweland has little specialization in its workforce. Each household is expected to farm their own food and make their own tools. As a result, their productivity is limited to what one can accomplish as a generalist. As land gets divided and redivided with each generation, the population is exposed to simple Malthusian constraints. The primary available capital is land, and each generation has less of it per person than their parents had. Technological advance does happen, but it has not been able to keep pace with the reduction in personal land assets.

It is to be noted that the farmers of Sweland were capable of farming their lands with less people on the land. Pretty much their entire problem right now is that they have more people working the land than they used to, which is in turn reducing the productivity of each farmer. If half or more of the people were taken off the land and put to work doing anything else, the productivity of society would increase tremendously. But no one wants to give up their personal ownership of any patch of dirt no matter how small.

“What if we all export at the same time?”
“Perfect! We'll all just devalue our currencies relative to each other...”

It is a matter of accounting that for every nation running a trade surplus there must equally be another nation running a trade deficit. The sum of all trade passing across borders must always equal zero. This is not to say that the effects of trade cannot be positive or negative, for they surely can be. Only that the total value of all goods and all currencies passing across borders must necessarily equal. Trade can improve efficiency, it can create access to goods and services that are otherwise unavailable, and it can transfer currency to places where the demand for currency is higher (via trade surplus) or to convert extra unwanted currency into real goods (via trade deficits).

Nations exist in other regions of Derpistan, and it is conceivable that trade or border policy towards one or more of these other nations could factor into how the characters address the problems in one or more of the focus countries. However, it should be noted that while news about what is going on in these other countries is scarce and unreliable, it sounds like they aren't really doing terribly well economically either. Greater interaction with other countries may allow imbalances to be adjusted away, but it may also allow contagion to spread...

• Malbaht: A nation with a shrinking living population whose legendary golem crafters have replaced the need for living workers.
• Nairhon: A Fairy kingdom where private speculation on land prices has driven up the price so high that the land of Nairhon is valued at more than all goods and services projected to be produced in Nairhon for the next 30 years.
• Certia: A Lizardfolk kingdom whose divine right is based on a religion that forbids lending and trading using currency intermediaries rather than direct barter.
• Hommom: An island chain with separate chiefs on each island that all use the same type of bead as a medium of exchange. Manufacture of the beads is centrally regulated, but all other aspects of the different tribal economies are not.
• Urkad: A city state that uses magic runes written by the original (and departed) wizard king as currency.

• Grimsol: A Goblin nation where nearly half of the population is currently in one of the Khan's armed forces.
• Tizzikit: An Abeil nation with a state religion based on gold. Not the god of gold, the actual gold itself.
• Nodral: A dwindling necromantic empire ruled by ever increasing number of ever living undead aristocrats.
• Vorringia: A seagoing nation that uses the shell of a sea creature that is rare in and around Vorringia as currency.
• Falskor Hegemony: Several linked city states that allow free transport of goods between them, but do not allow people to move from one city to another.
• Bwagoth: A joint stock venture colony where individual departments, districts, and services are in competition and intended to be profitable.

“Why should I trust you? You said this wouldn't happen.”

While every country in Derpistan is fairing poorly from the standpoint of economic growth, median incomes, and standards of living, the specifics of their crises are very different. And opinions about the origins and possible solutions to the crises vary considerably even within each nation. Below are three famous quotes from three different influential people in each nation. These quotes give insight into how the character sees their nation's crisis and how they would like to craft a response to it.

However the player characters intend to address each crisis, they are going to have to contend with these pundits. They may be able to win some of them over with arguments and evidence, but in most cases they will have to defeat them in some form of conflict (whether political or physical).

Silithrist Nardragil wrote:In the past we were impoverished, and people and tools stood idle. We enchanted more currency and put those resources to work. And for a time, we had prosperity. Now, one need only walk down the street to see that people and tools are idle once again. This is clear evidence that we must enchant more currency, as we did before. Prices are higher in terms of Llanaden Ash than when we started, but there is no practical limit to how many zeroes we can ensorcel onto a leaf. If inflation is reducing the value of the extant money supply and leaving us poor, then obviously we simply need to enchant up a lot more currency.

Arawen Aldaviel wrote:Phantasms are normally expected to be dispelled with the rising of the sun, and though a clever illusionist may be able to drag out the duration it will still come to an end given time. The appearance of prosperity brought by the Ash was simply a mirage. Wealth cannot really be created by magic, only a temporary illusion. We are lucky and should be thankful that this madness is starting to unravel, so that we can return to real growth based on sound money. We must sweep away this leaf money and return to the solidity and purity of the Silver Selunar coins of the past.

Erliniel Rhuivir wrote:Our error was and is hubris of the first order. It is not simply that the Queen had too much money enchanted or that too many Ash notes were spent on frivolous projects. The problem is that the Queen's so-called experts were spending money at all. We would not presume to tell a bard how to play his lute or a weaver how to spin her cloth, why should we expect the results to be happy when we are telling Elves of wealth how to spend it? Surely it is the merchants and lords who should be determining when and how currency is to be invested, because they are the people who are actually good at doing that. That is their job, and the Queen's enchanters should no more interfere in it than the Queen's kennel master should interfere in the tuning of a harp.

Thirdin Muladar wrote:The coffers of the kingdom are not limitless, and borrowed gold must be repaid. Just as the people of Thorigram have had to make sacrifices and tighten their girdles, so too must the crown. The simple arithmetic is that if the crown is running a deficit that the crown must cut spending until it is not. The King has terminated several programs, but it has not done enough. The cuts must continue.

Iolar Thranakver wrote:Price stability has not been maintained, and the only possible reason is that the number of coins in circulation is too high. The need for coinage of diverse metals, if it ever existed at all, is long past. There is demonstrably enough gold to cover any possible needs of traders and craftsdwarves. Copper and silver coinage should simply be demonetized, allowing for the more robust value of Gold to serve as our only medium of exchange. This will stabilize prices and allow the economy to flourish in an environment free of uncertainty and monetary debasement.

Roran Bronzecaster wrote:Our society has been infiltrated by non-Dwarves who are sapping our kingdom's strength and undermining us as surely as a lava worm undermines a mountain. These moochers come to Thorigram and use our caves, take our jobs, and contribute nothing in return. We hear about the horrors of the fact that more than one in ten of our people is looking for work and cannot find it. That is a tragedy, but it is easily remedied as soon as we stop coddling these worthless aliens. Almost one in five people living in Thorigram is other than a pure blooded Dwarf. If we clear away these alien scum, there will be plenty of jobs for our people.

Bibble Slipfizz wrote:Banking and investment pay dividends precisely because there is risk involved. The crisis showed us that many risks were being persistently underestimated, but it is clear that risks were taken. The benefits of high yields were enjoyed during the boom, and profits were made. And now that the bust has come, the penalties must also be borne. The investors made a profit off of that risk when the dice rolled well, and now businesses are going to close now that the dice have come up poorly. That is how the system works, and there is no sense trying to change things now. Some businesses succeed, some businesses fail, and in the long run we are all better off. More businesses are failing now than was expected, but in the long run we will still be better off if we do not attempt to change the direction of this pony.

Milvin Flitterspindle wrote:Our society depends on the engine of finance to power its economic growth. The banking sector must be saved, and the bond holders must be payed in full. We cannot allow confidence in investment to falter, we must show people that investing in our economy is a sound strategy for the future. There is literally no amount of public funds we could be asked to channel towards making sure that the bond holders are paid that would not be worth it in the long run. So long as the economy of Zundun remains a sound investment, any losses in the recession will be made up in full in the same way our growth came in the first place: sound private investment.

Jemmala Chrometron wrote:The economic downturn is causing Gnomish families to have to reduce their spending, and it is morally imperative that the state of Zundun follow suit. The nation as a whole is receiving less tax revenues, and it must learn to live within its means. The imperative is not merely arithmetic practicality, but basic Gnomish morality as well. How can we look the jobless in the eye and ask them to make sacrifices if we as a nation cannot make sacrifices as well?

Nuzrum the Fist wrote:Our way of life depends on getting manufactured goods from abroad. Getting manufactured goods from abroad depends upon getting foreign currency to buy them with. Getting foreign currency depends upon us selling raw materials from the forests of Korbahl. There is no other way. There has never been another way. The prices we can get for raw materials has fallen, therefore we must work longer hours and venture farther afield to harvest more of them in order to keep currency inflows stable. Work more and open up more of the forests for harvesting. That is all we must do. That is all we can do.

Thagurz the Thirsty wrote:Our ancestors did not have embroidery or steel or yams, but they were strong and they worked hard. And they survived without embroidered cloth, as we can survive without embroidered cloth. If the fruit of the lands of Korbahl do not buy what we want in other lands, we must simply learn to do without. We will sew our own clothes, make our own tools, and grow our own food. Our homespun goods may not be as handsome as the finery made by Lolthwyran guilds, but it will be ours, and the making of it will make us strong.

Shug the Beggar wrote:The weakness of our position has been shown by the newfound scarcity of foreign manufactured goods. Weakness cannot be tolerated. We must create manufacturing here in Korbahl in order to become strong. We do not have the means to make manufacturing. That too is weakness. We must bring the means of production to Korbahl. We must show the manufacturing that we have what it wants. Manufacturing wants labor that is cheap and skilled. We do not have skilled labor, so our labor must be very cheap. We have jobless and hungry Orcs, and they are weak. We can give them food and put them to labor and make them strong. We can use this labor to entice manufacturing to Korbahl. Make us strong.

Maevina Tiagara wrote:It is clear that the cobblers and seamstresses are stretched to the breaking point. Other guilds of garment workers are similarly strained, and I foresee it likely that the haberdashers shall not end this year without surrendering their guild charter. The lament goes out from displaced burghers that they have no jobs, and that without jobs they have no coins, and without coins they have no bread. And this is a sad thing, and something must be done about it. But we must accept that times have changed and that placements in the garment guilds will not come back. We must create space for new guilds to take their place, we must create new industries here in Lolthwyr that nimble fingered Drow can try their hands at. But these new industries cannot grow when they are constantly crushed by competition from cheap foreign goods made by established industries with mighty warchests. We must sever ties of trade with foreign lands. By embargoing goods from abroad, we create the potential guildspace to create the goods here at home. And when we are creating these goods here, the displaced workers will be put to work, coins will be put in their pockets, and bread placed in their mouths.

Zecel Skyre wrote:New technology is not, as the alchemists would tell you, an unadulterated good. In fact, it is now clear that the treadle powered “mechanical stitcher” is destroying our society. The rate at which the mechanical stitcher operatrixes can make a dress or a shoe is truly astonishing, but we must acknowledge that our very way of life depends on those tasks being done at lesser speeds. The mechanical stitcher replaces an army of seamstresses, but as a society we cannot do without that army from a moral or practical matter. How are the displaced seamstresses to feed themselves after being so baselessly cast aside? How are any other merchants to fill their tills without being able to compete for the seamstress' coin? While the mechanical stitcher is a marvel of ingenuity, it is clearly a daemon that we much destroy and forget about.

Errat Throl wrote:A contract is negotiated from a standpoint of mutual interest. Freely signed, a contract is by definition in the interests of both parties, but only under the conditions in which it was signed. A contract extended from times of plenty may make little sense and be actively harmful in times lean and chill. Once the guilds brought prosperity to our lands, but their time has come and gone. Our nation is being strangled by the guilds, the contracts they enforce have little relevance to the present, and the payment schedules and working conditions they demand simply cannot compete in the world as it is today. Look around and see the people cast out of work, unable to sign new and mutually agreed upon contracts to sell their labor because the market's neck is held fast by archaic guild contracts. We must break free of these chains, we must remove these wage minimums and workplace inspections. Only then can our society adapt to the high paced rate of change we find ourselves in. Then, and only then, we will have the prosperity that comes from putting all able hands to productive use at precisely the cost the market deems their worth to be.

Sherry Overfinger wrote:If it is the considered opinion of the assembly that the mothers of Sweland have too many sons and not enough land, I dare say that the solution is obvious. The hard truth is that we must take lands from the Goblins of Eastern Derpistan by force. After a short, victorious, and no doubt brutal war; we shall have fewer remaining sons and more available lands. Problem solved.

Cossel Headold wrote:In all of the history of Sweland, there have been hard times and there have been easy times aplenty. However, in all cases the difficult times have come with doom saying and bellyaching, but the answer was always the same: productivity grew and the problems went away. Crop rotation or the two handed scythe to name just a few. If our wealth is not keeping up with population today, it is merely because the next great advance has not happened yet. We should simply work on being the best farmers we can be, and allow the engine of Swelander know how to push us through in the same way it always has.

Mobbs Brushrumble wrote:Sweland was settled with the preeminent purpose of autarchy, liberty, and self reliance. Our ancestors started with barren dust and created the homesteads of our great nation. If the farmers of today cannot match the output of their forebears, then we must come to terms with the fact that they have failed. That we have failed. Those who lack the gumption and strength of character to make it in Sweland will starve or leave, as it has always been. As it should always be. I farm for myself and for my family, I do not farm so that freeloaders can have bread at the expense of my sweat. It is immoral for those who cannot farm well enough with the patches of land at their disposal to ask others to harm themselves for their sake. If they cannot farm adequately, they should go away and leave the land to someone who can.

Characters will begin at 4th level. Each player will roll up eight attributes using 4d6 pick the best three. They can put the five best attributes wherever they want and also have to put the worst attribute into the remaining attribute. Zero level races only.

As 4th level D&D Characters, PCs will start with 108 pounds of gold (5,400 gold coins, each weighing in at about 9 grams a piece, or slightly more than a US dollar or 2 Euro coin). Players may of course convert any amount of their starting gold into other, more traditionally useful things (or other trade goods) at the (sometimes very silly) exchange rates found in the books. Players may start with Minor Magic items at a cost of 1500 gp each, or with a Lesser Magic Item at 4000 gp. Specific items with explicit prices (such as feather tokens) can be purchased at the normal cost. But the weird bullshit from Magic Item Compendium is right out (especially, but not limited to Amber Necklaces).

I would expect classes like Beguiler and Cloistered Cleric to be more useful than classes like Barbarian and Fire Mage. But I am fairly lenient as to what classes people want to play.

The game is open to six players, and they may vote as to what nation they want to start in. In the event that votes split evenly, I will roll a die.

Special thanks to Moxcamel and AncientHistory.

Is this going to be an IRC/Roll20 thing, or PbP?

Korgan0 wrote:Is this going to be an IRC/Roll20 thing, or PbP?

PbP.

-Username17

I'm down. I'm thinking a renegade drow rogue, but I'm not sure.

edit: what kind of Tome stuff is allowable?

You bet your ass I want in on this. Also, in the interest of speed and fairness, I would suggest that frank do that thing he's described in other threads where several stat arrays are rolled out and then people choose one.

FrankTrollman wrote:

Korgan0 wrote:Is this going to be an IRC/Roll20 thing, or PbP?

PbP.

-Username17

Oh hell yes. This campaign is going to be magical, and I absolutely want to play. Gonna take a bit for me to come up with a character concept, I want to read through the setting in more detail first.

I'm in. I'm thinking a Korbahlan Orc though I'm not sure which class yet.

I would be all over this, but I've learned the perils of playing PbP games on the Den, where there are a million posts while I sleep. Never mind that it would be difficult to play a character who does not have modern views on economics and how to solve these things.

So I shall just express interest in reading the hell out of this campaign.

Edit: I should mention I laughed out loud at "The Korbahl" and the specific mention of amber necklaces.

I would like to play a Gnomish Assassin working for the Gnomish Illuminati.

This looks amazing, but I still don't have time to be in a second game right now. Sad. :<

But I'll enjoy reading this for sure!

Is this a game where we fix the European Union with magic?

Are we gonna go into dungeons and kill stuff, or is it all talking?

I can't commit to a play by post game, but I'm definitely going to watch this.

I rolled a stupid good stat line so now I'm mostly deciding between a cloistered cleric with really crappy strength or a face mashing cleric with really crappy dex. Currently leaning towards the latter.

After some consideration, I think Sweland would make a good starting target. Our PCs will not start with enough fame or raw power to be taken seriously by a state's government individually or as a party, and we need an opportunity to build strength for a better future bargaining position. If we parley our starting gold and strength at arms into something another economy needs, we can start making conditional offers to other states.

Sweland is not a unified state, and if we end up trying something offensive, we only need to worry about individual families. And it's a nation of generalist farmers, so we probably won't run into too many higher-level soldiers and wizards. Unless...

What is keeping these independent freeholds from fighting one another over land, exactly? Why is a major pundit recommending war with a hypermilitarized goblin state when these self-reliant families have no obligation to look out for each other?

On a tangentially related note: Morality for necromancy in Derpistan: Are we using Crawling Darkness or Playing with Fire?

Yeah I'm in if there is still room

Are you going to be using level ajust for drow?

Given Drowland is one of the main playable areas, and it's full of drow, and the Tomes introduce "how to do the LA +0 drow that everyone wants", and Frank said "no level adjustment races", I'm going to assume the Tome one would be used. Just a hunch.

I remember someone mentioning that this would make a better adventure than REturn to the Temple of Elemental Evil in some review thread, and am glad it is actually happening. I'll read along with a great deal of amusement.

A refinement of my earlier thoughts: Is there anything keeping me from spending most of my starting character wealth on hobgoblin mercenaries and telling Sherry Overfinger that the party's hostile takeover of the Overfinger freehold is a glorious opportunity to test her hypothesis?

If the party grabs enough land and turns it to more efficient use, that could be a launching point for advocating the necessity of specialization in overall Sweland society. Overfinger militia was challenged by career soldiers, and they lost, and then magic-bolstered monocropping turned out a record-breaking amount of food or cotton. If we can make the latter economical, we might be able to employ Lolthwyr artisans to produce clothing marketable in the Korbahl.

So, looking at classes, I'm considering a half orc warlock focusing on social spheres like Seduction, Violation and Terror.

Korgan0 wrote:what kind of Tome stuff is allowable?

Anything in the actual Tomes books. Also, anything I wrote to be Tome compatible, no matter how bad an idea it was (such as the Soldier or Star Mage). Tome material cranked out by people other than Frank and K just gets a "probably". I admit up front that a lot of that stuff I haven't even seen.

Whipstitch wrote:You bet your ass I want in on this. Also, in the interest of speed and fairness, I would suggest that frank do that thing he's described in other threads where several stat arrays are rolled out and then people choose one.

That would be fair by definition, and I would be OK with it. Everyone can post up their rolls, and anyone can select the stat rolls of anyone else (and assign them to different stats in order to make different kinds of characters).

Ogre Battle wrote:Is this a game where we fix the European Union with magic?

Are we gonna go into dungeons and kill stuff, or is it all talking?

The Euro Zone expy is actually in Outer Derpistan, and probably will only come up in passing. Whether players actually go and fight in dungeons is up to them, such dungeons do exist. The titular Temple is an actual place, and if you wanted to attack it you could. But if you wanted to handle that situation entirely with talking, you could do that too.

There will be no kill experience. Solving things diplomatically is worth just as much as solving things with the fist.

Avo wrote:On a tangentially related note: Morality for necromancy in Derpistan: Are we using Crawling Darkness or Playing with Fire?

Playing with Fire. The Necromantic empire in Eastern Derpistan is not evil, it just has an unsustainable trajectory of its pension system.

flare22 wrote:Are you going to be using level ajust for drow?

No. You can use This version of the Drow.

Ikeren wrote:I remember someone mentioning that this would make a better adventure than REturn to the Temple of Elemental Evil in some review thread, and am glad it is actually happening.

It was actually Moxcamel's excellent review of the execrable Marauders of the Dune Sea. But yes. This is why Moxcamel gets a thankyou in the OP.

Avo wrote:A refinement of my earlier thoughts: Is there anything keeping me from spending most of my starting character wealth on hobgoblin mercenaries and telling Sherry Overfinger that the party's hostile takeover of the Overfinger freehold is a glorious opportunity to test her hypothesis?

You can invest your considerable starting wealth into animals and retainers. Just remember that you are playing logistics and dragons, and that any additional boots also come with mouths that you will have to feed somehow.

As for using hired troopers to impose your will on gavelkind freeholders when imposing enclosures, I believe there is some historical precedence for that. Perhaps in 1649.

-Username17

are we using the age rules and can my charecter start at an advanced age?

Also are humans playable?

Interesting. But I'm still not sure about the degree of terribleness in the Overfinger scheme.

What is "the assembly"?

And is anything keeping Sweland freeholds from fighting each other over the limited land?

flare22 wrote:are we using the age rules and can my charecter start at an advanced age?

No.

flare22 wrote:Also are humans playable?

Yes.

Avo wrote:Interesting. But I'm still not sure about the degree of terribleness in the Overfinger scheme.

What is "the assembly"?

And is anything keeping Sweland freeholds from fighting each other over the limited land?

These seem like things to make a Gather Information check while in Sweland to uncover.

-Username17

Thinking about the Korbahl, if the party can raise the kind of capital necessary to start new businesses, they could bring in some of the unemployed experts from Thorigram and Lolthwyr and try getting a bit of diversification going.

None of the pundits seem like they'd be against someone trying to start a manufacturing base at home. It wouldn't be a great answer, but it would be fairly noncontroversial and have a good chance of getting the party dividends and publicity that would make it easier to push more ambitious ideas.

FrankTrollman wrote:You can invest your considerable starting wealth into animals and retainers. Just remember that you are playing logistics and dragons, and that any additional boots also come with mouths that you will have to feed somehow.

Does that include spending 25gp/HD to create undead with [Necromantic] feats?