In the real world, for a country's wealth to have any worth, they must have gold bars of an equal worth to back up their currency, otherwise it becomes worthless(this was how German went bankrupt at the end of World War 1)

 

 

 

I was wondering if this works in the same way with the RS currency?

 

 

 

 

 

 

 

Does it have to be that the items must be of equal worth to the total amount of currency held by players, or in flow at that current time(everyone's money added together), in the game at any one time, and thus the GP cap, or the cap on prices of items.

 

 

 

 

 

 

 

Also, is their a bread line of runescape(although their are no basic needs, is there a certain amount of money above which players aren't 'living' in poverty any more.) And at what point are players above or below this?

 

 

 

 

 

 

 

In answer to any questions people may have as to why the hell this matters, it doesn't, i was just considering some facts about RS, i am bored out of my mind currently tanning 2.5k cow hides as i want 60 crafting, yes i am that sad... JK to those who have really high crafting, good on ya's

In the real world, for a country's wealth to have any worth, they must have gold bars of an equal worth to back up their currency, otherwise it becomes worthless

 

 

 

 

 

 

 

Not true. The gold standard has been abandoned for quite some while now. Yes, most central banks of countries do keep a certain amount of gold still, but it's not a "must have".

 

 

 

 

 

 

 

Does it have to be that the items must be of equal worth to the total amount of currency held by players, or in flow at that current time(everyone's money added together), in the game at any one time, and thus the GP cap, or the cap on prices of items.

 

 

 

 

 

 

 

That is not necessary. There is no economic theory stating that this has to be true as far as I know.

 

 

 

 

 

 

 

Also, is their a bread line of runescape(although their are no basic needs, is there a certain amount of money above which players aren't 'living' in poverty any more.) And at what point are players above or below this?

 

 

 

 

 

 

 

Well as you said, there are no basic needs, so 'poverty' does not really exist. I guess seasoned players may consider anyone who can't afford full rune to be 'living in poverty', but that's a weird way of defining poverty IMO.

This is a weird topic because Runescape economy is so screw'd up

 

 

 

but anyway

 

 

 

 

 

 

 

I think the the rs players who do not have 200k worth of items in there bank are in poverty the reason i put 200k because thats how much a house irl would cost ( atleast were i live )

 

 

 

 

 

 

 

so I think alot of people in runescape are extremely well of......

 

 

 

And Wouldthink a rich person in rs would have like 10 million in there bank

 

 

 

I think 1 mill is realy easy to get so 10 mill would have to be upper class

 

 

 

200k and down is low class 200k-10mill is middle class

 

 

 

we have a high amount of middle class most of us are middle class

 

 

 

And if you have over 300 mill you are realy well off..

Oil is like Party Hats \. They keep going up up and up and drop then screw up everything.

There's really no "poverty line" in RS since nobody has to eat or pay taxes to stay alive (unless you count members' fees), so I don't think anyone can be considered as "in poverty". Just poor (like me).

 

 

 

 

 

 

 

And if you've ever tried mechanting, you'll know that the items' worth don't always equal the money in the game. This weekend I could've counted over 100k bs being sold on the official forums, and only about 15k being bought. Next week it could be different. It varies depending on the day (and any recent updates make it change slightly too).

I usually enjoy the discussions on Runescape economics, and this thread is no exception.

 

 

 

 

 

 

 

I think that a lot of the previous discussions I've read have missed a very large point. If prices fluxuate on certain items, it's only because their inherent worth has fluxuated. The only people who are really affected are those who assign a personal view of an item's worth after the community's value has changed.

 

 

 

 

 

 

 

And I think a discussion on poverty highlights a major difference between Runescape and real life economies. In real life, poverty is as much a function of class and education as anything else. In Runescape, everyone is on a pretty even playing field. If you're unlucky enough to lose an expensive item, a little work can get it back: train until you can alch yew longs, for example. However, in the real world, if you're in an impoverished state, chances are things are going to stay that way.

the ripple effect is true of both economies. if more rune rocks were added in f2p, there would be decrease in prices of ore, bars, armor. this in turn would affect many other things...

 

 

 

 

 

 

 

i have seen what supply and demand can do to prices in rs. when easter rings were out, ppl were buying spades for 10k ea.

 

 

 

 

 

 

 

i would compare oil prices to coal. coal is an important ore that affects mining, smithing, construction, pking and even fishing if u think about it.

To learn or think about the RuneScape economy lets take a look at the "Party hat syndrome". An Item appears to be very common for a certain period of time will soon lose it values. A lot of people pick it up in the period it is common but after that people gets rid of it because it is common, resulting in a very few people have one left and the price is rissing to sky high prices.

 

 

 

 

 

 

 

Another can be called "New Item" syndrome - A new Item is released and a lot of people wanting it resulting in the prices rises sky high but then there comes more and more of it resulting in the prices to sink into low compared to the first prices.