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The new labor badge and the economy

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The new labor badge and the economy

Post  Piratus on Wed Sep 30, 2009 6:30 am

As you may have noticed, there is a new labor badge, the delux labor badge, wich will give buyers more labor hours than the standard one.

This sounds good in theory, more poe for the workers, right? Wink Unfortunatley it has some other effects too. My ironworking stall on wenslydale is finding it harder to make money due to the new prices. Prices have dropped, the average price for medium cannonballs have gone down from 36 to 32-31. In a buisness where 10% profit margin per unit is average, this is bad.

So, why did the prices drop? I am no expert but I have my theory.
The new labor badge means there are a lot more labor out there per pirate. That means a lower demand for labor and in turn lower prices on commodities.

So, what do you guys think about this? Smile

EDIT:
It looks like iron prices are going back up! Buying 3.800 units of iron when it was 12 per unit seem to be paying off. Current price 13 unit.
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Piratus

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Re: The new labor badge and the economy

Post  Pishkirlin on Thu Oct 01, 2009 4:17 am

I have no idea, but if there is more labour available, then it should be paid less and the prices should indeed decrease. As a stall owner you should pay less your workers or most likely provide more labour of yours to your stall. Having 3 characters badged working for your stall makes 216 hours of labour per day. Three badges cost 45 doubloons. How much do you pay an average hour of work? If you can provide expert labour for your stall (unless you don't forge swords and only sell cannon balls) I'm sure you can make good money.

By the way, I didn't buy the deluxe badge because I am not sure whether my 72 hours of labour would all be used (and paid) or not. Before the introduction of the labour reserve too many times I had unused labour.
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Re: The new labor badge and the economy

Post  Piratus on Thu Oct 01, 2009 12:05 pm

Having 3 characters badged working for your stall makes 216 hours of labour per day. Three badges cost 45 doubloons.
Unfortunatly, I don't have that much.
How much do you pay an average hour of work?
I pay 18 for basic and 25 for skilled. That's much higher than the average (12-16 for basic, 15-20 for skilled) but still not enough to get any workers, nor to pay a regular badge back.
if you can provide expert labour for your stall (unless you don't forge swords and only sell cannon balls) I'm sure you can make good money.
I am not making swords. But I do have 2 other jobs so I don't waste my labor in case my stall can't handle it. My stall is offering more than the other stalls I am working for, except for Expert labor wich I sometimes give to a rival stall.
They are paying 75 per hour, one day I made 1.1K. for giving away 15 hours.
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