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Racheya

Tip.It Times - 30th January 2011

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Huh, you learn something new every day. I never realised how mandatory basic economics was in US education. As Racheya said, its not required in the UK at all. I'm at university, and I've never even taken a class that could be called 'Economics'.

 

Frankly, after seeing complicated things like junk trading, it gets a bit beyond me.

 

EDIT: My God, I'm starting to sound like my dad...


~ W ~

 

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Most of the price changes in a game like RS can be tracked to time of day, general highscore trends, game updates, or the price trends of items linked to the one in question (very important in terms of rares). There are factors in common - like how the particular item/stock has done historically - but RS fluctuations are based on easily tangible reasons.

 

RS has some fundamental differences from a real life economy. Best not to make comparisons but instead to evaluate it based on the factors around you that you do know.

 

We could discuss these but I'm pretty sure there has been a comprehensive discussion about that at some point here.


2496 Completionist

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Yeah, um, basic economics aren't hard to grasp. Part of High School here as well. However, predicting the economy, especially in the short term, is very difficult.

 

The thing that REALLY gets me about this whole wilde/free trade thing though... Free trade really won't change the economy that much. The items it will effect (affect?) is junk, rares, Nex/Corp only drops.

 

Have to say, one thing that I think the author was right about, a lot people will still continue trading through the GE.

 

This is true, and people might stop trading over the GE when buying mass quantities of items, thanks to the good ol' GE limits Jagex decided to keep <_<

 

 

 

And why did they decide to keep them? To stop price manipulation... hah! At least it wasnt a stamp copy of to stop rwting, again.

 

No... it's to stop monopolies.

 

yawn, great to stop monoploies but still got the same limits, enjoy your 2 treasure trial items per 4 hours, and other ridiculous limits

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Is that really all there is of the second article?

 

I felt as if it was just getting the the meat and potatoes of the issue and then quit.

 

Yes you may be ignorant and a big change is coming, but what is the plan when it does? We all know its coming, so whats the point of telling us again? Tell us what you contend about the free trade and how you think (as someone who is "ignorant") will deal with the change, as compared to someone who may have profited hugely from 3 years of GE manipulation, or someone who has been biding time since the change.

That may well have been a good way to take the direction of the article, yes :) I did feel that I was running out of steam at the end and the first part of the article was written a few weeks before I finished it off for this Sunday so it's hard to keep the flow going. Your suggestion is pretty valid :D

 

I think that when it does come, I'll just adapt. It won't effect my immediate life as I'll just trade on the GE as much as I usually do but the option of having friends give me more gifts and to help out some of my lower levelled friends is far wider. I've never been the sort of person to 'trade on the street' and I much prefer the GE.


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I edit for the [Tip.It Times]. I rarely write in [My Blog]. I am an [Ex-Moderator].

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The first article seemed like it contradicted itself by the end. The thing was very prooly written imo.

 

As for the second article, I can relate to it. I understand stuff like risings, but with junk trading, from what I understand you basically either have millions of junk in your bank or have to make it all by yourself? And buying would be just plain useless, except to troll the guy buying the divine/etc.

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Guest jrhairychest

I'm glad it struck a chord with some people. I know those who can understand the Runescape economy wouldn't really appreciate it as much but everyone has their own perspective, right? :)

 

Like I said, I get some of the basic ideas but the finer points just leave me. I've never done any sort of economics. In the UK, it's not any sort of required subject at GCSE level. The closest thing would be business studies that some people took, but not that many. At least when I was finishing Secondary School. So all my economic understanding comes from what I've picked up on the internet. I'm a Computer Science student, economics don't appeal to me, but shouldn't they in Runescape? I should take the time to delve more into Runescape economics but I often feel that I don't have the sort of money pile for it to matter (generally around 2m) and, of course, what we say we should do and what we ACTUALLY do are often two very different things ;)

 

This really depends on whether the subject floats your boat, as you say perspective. I personally never played RS to study the ecomony to its nth degree. I've always played it because it was fun. Sure it comes into play when you want to profit or buy items at the right price but for most of us that's as far as it goes. I get the feeling you're trying to be interested in an aspect that you feel you should but don't particularly want to (Correct me if I'm wrong). I'll leave all the analysis to all those children 'majors' and expert economists that we are so blessed to have posting on the tipit forums, taking the time from their real high profile jobs to tell us how thick and stupid we all are :XD:

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There's a difference between having a BASIC understanding of something and no understanding whatsoever

O wait that difference is mostly just common sense


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Ever wanted to find street prices of RS items? Check out the SPOLI Index

 

Nex Drops: Pernix Cowl, Pernix Chaps, Torva Helm, Torva Platebody, Zaryte Bow, Pernix Chaps, Virtus Robe Legs, Virtus Robe Top, Torva Platelegs, Zaryte Bow, Pernix Chaps, Virtus Robe Legs, Zaryte Bow, Virtus Mask, Torva Legs, Virtus Robe Legs, Virtus Robe Top, Virtus Robe Top, Zaryte Bow, Virtus Robe Legs, Virtus Robe Top, Virtus Robe Top, Torva Platelegs, Zaryte Bow, Pernix Body, Torva Platelegs, Torva Platelegs, Virtus Robe Top

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Runescape economics don't make a big difference to me. I gather all my own supplies & just sell what I make for any decent price ( around high alkie level ). All the free trade will do is make prices on new toys shift a bit & bring lots more bots back into the game. The bots are what I'll hate since they'll be auto competing with me for resources.


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I wish Duke Freedom was still around and active. He'd have a lot to add to the thoughts in the second article. The kid has talent in economics, although that's not his focus of study right now.

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About the first one ('what, not teh economy??'):

 

I disagree with Racheya. Oftentimes these community events are, quite frankly, pathetic. One my friends summed them up quite nicely: a front page post + one jmod babysitting with public off and talking with the other employees on Skype.

 

Firstly, I do not recall four updates/month. Even before FT/wildy came out (where they had an excuse to take their time), Jagex wasn't exactly churning out updates. Also: I, for one, don't see the inherent appeal of Ele Workshop 3 and Do No Evil - which add very little to the game (besides the new 300kxp/hr thieving method).

There are many, many issues to address in RS that jagex has ignored. Some of them include the dg auto grouping system. If jagex spent more time on their alts, they might see that dg right now is almost exclusively a lv 130+ activity (a group of lv 80s finishing 2 dungeons total a week doesn't really count). Couldn't they at least advertise this system? Would require only a small amount of their precious time, I'm sure.

 

Of course, the alternative is that they DO play their game like your average player, but choose to focus on easy stuff, like community 'events', and not on improvements.

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