Visual economics, or what virtual currencies have to do with real neighbors.
Money makes the world go ’round. Or so the saying goes. Whether or not that’s true, money does go around the world, wrapping it in an invisible web of socioeconomic and geopolitical patterns.
Northwestern University grad students Daniel Grady and Christian Thiemann are on a mission to visualize these patterns. Their project Follow the Money investigates the structure of large-scale communities in the US through the prism of how money travels. Using data from the popular bill-tracking website Where’s George?, the team identified geographically compact communities based on how much currency is changing hands within them as opposed to between them.
This may sound like dry statistical uninterestingness, but the video visualization of the results is rather eye-opening, revealing how money — not state borders, not political maps, not ethnic clusters — is the real cartographer drawing our cultural geography.
When we made the video, we wanted to produce something that anybody could watch and understand what was happening, but at the same time we didn’t want to have to dumb down any of the ideas.” ~ Daniel Grady
The project was a winner at the 2009 Visualization Challenge sponsored by the National Science Foundation and AAAS and.
But as cash nears extinction in the age of plastic and electronic transations, we’d be curious to see a visualization of payment networks in all the forms and formats today’s money lives in — physical, electronic, and even virtual currencies like Facebook’s AceBucks, World of Warcraft’s gold, or Second Life’s Linden dollars.