Fans of Edward Castronova and virtual words will find this of interest. Second Life is protecting its players/customers/citizens from bad financial decisions. Art imitating life or something more fundamental?
The Hand of the State and the Virtual State
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Russ, I am not sure you gave this story a fair shake. If you were a depositor at a bank and the bank violated your agreement what would you do? You might sue them in small claims court or use some other common law remedy being a good libertarian. Unless second life has a court system that I don't know about, I think the company acted reasonably. Enforcing contracts is not the same as paternalism or protecting individuals from making 'bad' decisions.