Fixing the economy

[fenrir321]

According to my economics teacher, the only way to make wealth is to take a raw material of any kind (not just material) and turn it into goods that are more valuable; essentially turning time and energy into money.

 

 

 

Obviously, is backwards on runescape. If you buy 5 rune bars and sell the newly made, crisp rune plate body, you end up losing about 20k. The only reason that bow strings and yew/maple logs are less expensive than the end product is because of the high alching spell that requires nature runes and bumps up the cost to a negative profit. And if you do try to sell the finished product, it ends up becoming fodder (junk). I have been too lazy to ask my economics teacher about advice for the problem. Therefore, in the meantime, I ask you all \

 

 

 

As for my view, I think that there needs to be either a slow down of production to match the drainage of the supply or leave the production alone and increase the loss of these items and REMOVING them completely from the game (not just transfering from player to player). In other words, a revamp of pvp worlds so that is an actual incentive to be in them and a high risk to balance it. For example: double experience in all skills while risking at least 6 non stackable items that are more than 25/75k in a normal dangerous and triple experience in a hot zone. Just a suggestion.

[blakdragon39]

Yeah, rs economy is messed up really. :P However, I think that's because we value experience over money. People will pay a lot of money to get a lot of experience fast, so raw materials are much more valuable to us than the finished products are. Completely backwards from real life. :P What the heck are we gonna do with a lump of coal in real life? We certainly aren't gonna take the time and smelt it into to steel and build buildings all on our own. We get nothing out of that. On Runescape, we get experience, and experience > all.

[Purgeelid]

Yeah, I see where you're coming from. However, just because the economy is backwards doesn't mean it is such a bad thing for we Runescape players. Honestly, if we get paid more for doing less work, who's to blame?

 

 

 

Canada?

[fenrir321]

Yeah, I see where you're coming from. However, just because the economy is backwards doesn't mean it is such a bad thing for we Runescape players. Honestly, if we get paid more for doing less work, who's to blame?

 

 

 

Canada?

 

But what about the people who train cooking, smithing, crafting and herblore? It would be nice they at least broke even if not a profit. Not everything revolves around money. Some people like to gain experience in production skills while not losing money spent elsewhere on runes, ammo, and other consumables.

[chc05dude]

You gain XP instead of wealth when you train most (buyable) skills. XP is just another form of wealth. You can pretty much directly convert prayer XP into cash and vice versa, from a wealth calculation standpoint.

 

 

 

Wealth generation is mostly done by the monster killers, the woodcutters, the coal miners, etc. What you are really discussing, is merchants vs resource gathering players. Merchants provide no material wealth to the economy, yet can be loaded with gold.

 

 

 

The real world economy is much more messed up than the runescape economy, because those who have cash on hand(and a bank charter) can lend out imaginary money that doesn't exist hedged against the money they do have on hand. If you have 1million USD, you can lend out 9million USD, and on top of that earn interest on your imaginary money.

 

 

 

Banking is responsible for most of the cash generation, not the mint. You get into a problem where, if there is ever a decrease in the amount of money lent, the money pool decreases. If the money pool decreases, there is physically not enough money in the economy to pay back all outstanding loans(+interest) unless there is in increase in the rate of lending.

 

 

 

So to sum things up, simple.wiki would say "If we lend out less money than we used to lend out we run out of money and that would be bad."

 

 

 

Which is what's happening right now.

[Owned_Nex]

In the real world, MOST people have no skills. Some have a single skill. SOme have many.

 

 

 

In Runescape, everyone has every skill.

[SanNo1]

You have to keep in mind that exp is valued over money by most. If you take 5 rune bars and turn it into a rune plate, you gain xp, which you pay for with the loss in value of the product. You'll see that you will see a rise in the cost of xp/gp for higher lvl items, as they usually are faster xp.

 

 

 

In short: Exp.>money in rs. Money is mostly used for training skills.

[mario_sunny]

We just need more ways of spending cash. The only popular ways of spending cash at the moment are ancienting and construction. We need more.

 

 

 

The problem is the rs population has always assumed money = experience.

[foursideking]

well...the truth is...the only way the runescape economy is gonna get fixed is if jagex introduces a f2p minigame where people can get experience for doing certain minigame related things...then time will equal experience...another way to fix the runescape economy......elect obama as runescape's president :mrgreen:

[Assume Nothing]

Well, the fact is, we as RuneScape players would always factor in the cost of xp. I remember seeing someone say on a similiar topic something along the lines of "You don't get crap for making a bar of metal into a spoon irl, but in RS, you get experience for it" (badly quoted, I know :(). Although the economy works in reverse, we're rewarded experience, which is worth it's weight in gold.

 

 

 

There is, only one thing that springs to mind, the fact that the more 'finished' product, being tanned hides, are worth more than their untanned counterparts. However, this doesn't reward experience.

 

 

 

Sorry if I phrased that badly, kinda tired.

[Karvinen]

It's not the experience that is valuable (talking about herblore, smithing and other similar skills). It's the skillcape. People train these skills just to buy the skillcape or for boosting total level. The experience itself is worthless.

 

 

 

Everything you can do with these skills can be bought (from cape buyers) for cheaper price than by making. Raw items can be sold for higher price.

[Assume Nothing]

It's not the experience that is valuable (talking about herblore, smithing and other similar skills). It's the skillcape. People train these skills just to buy the skillcape or for boosting total level. The experience itself is worthless.

 

 

 

Everything you can do with these skills can be bought (from cape buyers) for cheaper price than by making. Raw items can be sold for higher price.

 

 

 

No, not everything is about the skillcape. Some people just like the skill, some people just want the level to do more. The experience is not worthless, stop spouting bull and give some reasoning behind your claims.