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Fixing the Economy

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Iso†Decoder
Apr Gold Premier Club Member 2014

Iso†Decoder

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Suggestion: Faction War Mini Game

Currently, gear from pvm drops and smithing are crashing to alch prices with the exception of masterwork, which has no alch value to even stabilise its free fall, due to the mining and smithing rework.

What we need is a sink. With large gp return, something like high alch, though, that in itself presents a couple of issues some players pointed out in another thread:

1) Many players argue about 'inflation'. Seriously, though, this isn't the real world so inflation isn't even a problem. Why?

How many of you in the real world see a giant breasted chick called Alice whoring out millions of gp for nothing in return (in-game wise)?

How many of you in the real world witnessed alchemists turning scrap metal into piles of gold coins for a marginal percentage cost?

In the real world, sure that would be a problem. But, we have yet to see the ill effects of all those gold injected into this game.

Besides, if we worry about inflation too much, it doesn't matter what idea we can come up with to make mining and smithing profitable in conjunction with pvm drops (specifically for masterwork trim), all the gear we get will become worthless pieces of junk.

But if the Runescape majority really vote against inflation despite my arguments above, okay, let's take that problem into account.

2) This is not talked about as much, but gear getting high alch value would defeat the purposes of its creation. Gear is made for combat, not for high alching, even though the latter is the one that determines the prices of items as of this mining and smithing rework.

I'd advise something be done to give items value as vis wax did for runes from runecrafting. And if increasing the return from high alchemy really isn't the way to go, we need a system in place that creates an item sink in return for gold. Then a gold sink for those that worry about inflation, in return for new items or benefits.
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25-Jan-2019 02:47:14 - Last edited on 27-Jan-2019 04:02:29 by Iso†Decoder

Jennette
Jun Gold Premier Club Member 2013

Jennette

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Doesn't trimmed masterwork eat normal masterwork armor though?

So there is one masterwork sink at least?
Lost Coconuts.
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25-Jan-2019 05:47:48

Iso†Decoder
Apr Gold Premier Club Member 2014

Iso†Decoder

Posts: 2,644Adamant Posts by user Forum Profile RuneMetrics Profile
Jennette said:
Doesn't trimmed masterwork eat normal masterwork armor though?

So there is one masterwork sink at least?


That is true. But trim masterwork stays in circulation.
~ Level 99 mechanical engineering

The
ultimate
3D modeler

The mother of creation and the father of engineering

25-Jan-2019 07:25:09

Steelweaver
Sep Gold Premier Club Member 2015

Steelweaver

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Inflation... is actually a thing though. It doesn't matter if it's not real or not.

Back in the day, you could buy a dragon chain for 6m. Nowadays, not only because there's something better out there but because of inflation as well, 6m will get you a majority of a Bandos set.


It's also a very big reason why you see people touting the gp exchange rates between RS3 and OSRS. If both currencies are fake and technically the exact same thing, why does more RS3 gold turn into less OSRS gold?

On the upside, we're in a deflation. So there's that.

And I'll gladly support more item sinks, but we still need to address Invention materials first.
With the changes to Smithing, we're no longer dealing with a massive surplus of metal gear, meaning a lot of the components for Invention got rarer and more expensive.
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25-Jan-2019 15:13:26

Evsmech
Jan Gold Premier Club Member 2018

Evsmech

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Steelweaver said:


On the upside, we're in a deflation. So there's that.




Thank you for posting this! I keep hearing the word inflation thrown around, when in fact it is deflation. Inflation would indicate the product is more expensive and it would take more currency to purchase. What we have is deflation meaning you can buy the product with much less currency!

People donít think the economy be like it is. But it do.

25-Jan-2019 17:02:07

a†Failure
Jul Member 2005

a†Failure

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Inflation (or deflation for that matter) aren't necessarily damaging, per se, so long as the overall economy is healthy, flexible, and robust.

At its core, RS has a pyramidal economy with combat skills at the top, production skills in the center, and collection skills at the base. The flow of coins generally should move down the pyramid while the flow of goods generally should move up. Anything that breaks this chain will, in the long run, damage the economic flow and disenfranchise whole classes of players.

The products of collection skills are resources
The products of production skills are items made from resources
The product of combat skills is wealth generated from PvM using items and resources

Currently, we have a lot of content that breaks the flow and damages the economy. Improvements will need to be gradual and carefully planned. In my view, to attain a robust, flexible, vibrant economy, at least some of the following should be (gradually & carefully) implemented ...

* PvM should be the only source of coins in the game, and coins should be the only drops received.

* Alchemy should be removed or changed so that it converts one item into another based upon runes used. It should never produce coins.

* All gear, items, and resources need to degrade. (Yep, even the fish. Everything needs to degrade or have an expiration date. Otherwise, the economy stagnates.)

* New content should take into consideration the correct flow direction of items vs coins.

26-Jan-2019 00:42:22 - Last edited on 26-Jan-2019 15:13:09 by a†Failure

i†takenobull
Aug Member 2018

i†takenobull

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The free trade in this game mimicks real world economies especially considering real people are involved. So real world practices are being used. And with the introduction of bonds its easier than ever to get gold making items cost more.

26-Jan-2019 08:11:01

Darth†Amber
Jun Member 2008

Darth†Amber

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in reply to a Failure (too long to quote)

Thank you for posting this! I keep hearing the word inflation thrown around, when in fact it is deflation. Inflation would indicate the product is more expensive and it would take more currency to purchase. What we have is deflation meaning you can buy the product with much less currency!

People donít think the economy be like it is. But it do.[/quote]

This idea is one of the worst I have ever seen, we all know trickle down economics do not work at all in the real world and they would work even mess in a game. All this would do is set up a class system with PvM as the rich, all around players as middle class, and skillers as the poverty stricken 3rd world people.

The economy would grind to a halt as PvMers would buy all they need for months in bulk leading to nothing selling after that point and with no way to ever make money skilling due to nothing ever selling skilling would stop completely.

When the PvMers bunrt through their initial supply stocks they would find all their new found wealth from having the only way to actually make money suddenly useless as there would be so little skilling being done that prices would have inflated to the point where a single food item would be 100k, and not worth buying making the economy basically like playing a single player game as everyone would have to go 100% DIY like a hardcore ironman due to there being no functioning economy left.

That being if the game even was able to survive the class war removing any money from skilling would result in to begin with.

26-Jan-2019 14:18:46 - Last edited on 26-Jan-2019 14:20:11 by Darth†Amber

a†Failure
Jul Member 2005

a†Failure

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We already have a class system pretty much as you've described it.

We shouldn't get too stuck on comparing game economy with IRL economy 1:1 because they are dissimilar in many ways. What works well in one may not work at all in the other.

PvMers could not buy in bulk for months of supplies if they degrade/expire. They would soon learn to buy only what is needed for immediate use.

Your description of an economy that is halted (stagnant) is almost exactly what we already have.

My suggestions are aimed at making the existing pyramidal economy more fluid and effective. It could well be that this pyramidal economy is flawed in itself and needs replaced entirely. If so, I have no suggestions.

26-Jan-2019 15:12:47 - Last edited on 26-Jan-2019 15:32:24 by a†Failure

Iso†Decoder
Apr Gold Premier Club Member 2014

Iso†Decoder

Posts: 2,644Adamant Posts by user Forum Profile RuneMetrics Profile
My item sink idea came in the form of a mini game. Changed the main post if this thread to reflect that.
~ Level 99 mechanical engineering

The
ultimate
3D modeler

The mother of creation and the father of engineering

26-Jan-2019 16:21:07

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