The Great Runescape Depression

The Great Runescape Depression was a period in Runescape history when poverty was widespread. The Depression came as a result of Jagex temporarily shutting down all “natural” means of obtaining items (all respawing items, mines, chests, shops, etc.) This meant that the only way to obtain an item was by trading with another player. The grand exchange was also shut down.

Beginnings
The first results of Jagex’s actions were riots and protests throughout all of Runescape. Such large scale protests had not been seen since the removal of the wilderness. Many players quit or canceled their memberships in retaliation. These riots lasted for days on end, and did not stop until about three weeks into the update.

Economic Effects
Many players who made their living by marching or mining were quickly swept into poverty. Beggars and scammers were more prominent than ever. The value of the Gp went up drastically, about 15 times what it is currently worth. A player who had 100k would have about 1.5 mill by today’s standards, although such wealth was rare. The average amount of money per player was 1k. Items were very expansive, as only limited supply existed. A set of full mithril could go for up to 10k, and full rune was 100k. Almost all players during this time could only afford bronze or iron armor, and jewelry was considered extremely valuable. Diamonds would sell for up to3k.

The Rich
Although the depression resulted in widespread poverty, it also greatly increased some players’ wealth. If a player had 1 mill before the depression, he would have about 15 million due to the Gp value increase. Most players immediately traded their newfound wealth for items so that their value would not go down when the Gp returned to normal value. Many rich players hired “servants” to aid them (many poor players were desperate for money, so they tried to find jobs.) Scamming was also very common among rich players; since the GE was not up no price restrictions were placed on items.

After Effects
After about 4 months of depression, Jagex finally restored all the “natural” ways to obtain items. This caused a short explosion of prosperity in the overall community, but in about 3 weeks everything was back as it was before the update. It is still unknown why Jagex initiated this update.