I've followed this thread with great interest. here some of my ramblings on the matter....forgive my ignorance of the detailed game mechanics if any of this seems like nonsense.
I agree that there is a need for a more player-based economy.
Several comments have indicated that part of the problem lies in balance, and in integration.
It seems that the different threads of the economy, i.e. the paths of resource flow, are not well enough integrated to allow a player driven economy to regulate itself.
Self-regulation requires resource flows that are engaged in feedback loops - this is a systemic issue. right now, it seems that the game's economy is organised more in the fashion of a linear, throughput-based economy, with npcs, mobs and mines as sources on the one end, and npc's again as sinks on the other. To allow value to remain in the economy without fluctuations having too disruptive an effect on pc's, a diversification of resource and value flows would be important, as would the increased participation of players in such a diverse web of crafts and professions. pcs need to be able to play a much more diverse and fundamental role in gathering the raw materials, processing and selling them - for just about every item available in the game, starting with one-eyed rat skins for those outrageously fluffy adventurers' boots we all desire.
It would seem that another part of the solution might be to tackle this issue of systemic integration by making the amount of items available from npc's directly related to the amount of raw material stock he receives from pc's. the sourcing of raw materials can be seen as a type of newbie quest-like activity, engaged in until pc's have acquired trias and skills that allow them to render more valuable services or craft goods of their own. accordingly, the price of all goods traded should be allowed to fluctuate in relation to the availability of the supplies needed to make it, and the amount pc's are willing to pay for it. in converse, npc traders and smiths should only be allowed to purchase stock if they have enough trias to do so, or if players agree to sell to them for lower values. they should only be allowed to craft items if they have stock, and only sell items they have crafted or bought.
since pc's discover items as loot from mobs, could we not close this cycle a little more by allowing mobs to loot fallen players too, unless they have buddies or guild-fellows who salvage the body and its possessions....? in this case, items would have greater persistence and circulate more widelythroughout the game world, players would be more cautious about venturing to the death realms, and more fastidious about only entering combat with trusted companions with a variety of specialist skills to back them up.
gold does seem to be strangely over-valued, considering it has little utilitarian value in-game. gold's value (apart from its possible role in crafting magical items and jewellery) would likely be more symbolic. this also relates to its use in the minting of currency. currency symbolises abstract value, that can be used to assign comparative value to items of different kinds. this is what allows it to be the grease that helps items to change hands and services to be rendered. iexcluding jewellers, imperial or royal mints would generally be the only entities to purchase gold in its raw form.
trias, though, seem to leak from the economy as water through a sieve - via npc traders, and through trainers. the trainer issue is one that i really feel passionate about - it needs to be adressed urgently.
why can advanced players not earn xp and pp by training those less skilled (e.g. a master swordsman can train anyone up to 5 levels beneath him, and receives rewards proportional to the level of his students)? Pc trainers can charge what they wish. NPC's should only train complete beginners, in my opinion, so that maxing skills depends on the development of the type of master-fellow-apprentice relationships that could form such a strong foundation for medieval-style guilds, which would then likely be governed by
councils of influential masters who extend patronage to their factions of supporters.
this should be tied to the circulation of of raw materials, goods, and services: to conduct their businesses and maintain their guild halls and other properties, guilds would depend on fellowship fees as well as on preferential access to the relevant resources - which could be much scarcer than they currently are. for this reason, I like the idea of limited resources that respond to over-exploitation with scarcity and disappearance. in the competition for scarce and finite resources and the ongoing enagement of players in extraction, production, trade, patronage networks lies a wellspring for truly vibrant guild intrigues and roleplaying!