Originally Posted by
Armond
People that consider taking gathering professions at level cap make me sad.
About the effects on the economy: They'd be caused by people with crafting professions. Mining/Skinning/Herbalism wouldn't affect the economy nearly as much as Jewelcrafting/Enchanting/Alchemy (or perhaps Inscription over Alchemy, depends on how the glyphs turn out). I'm assuming a cap on three professions for the sake of argument; it'll get my point across with less work.
In the current economy, gathering professions aren't useful because half the players on any given server think they're the best way to make money. They're not wrong until they reach Northrend, but hey, we'll let them live their ironic little lives.
Because of this (and partly because of bots), supply of materials is high and prices are somewhat low. I'm sure everyone here has tried flying around Scholazar Basin or Storm Peaks at least once; unless you're on a super small server, your gold/hour is reduced further by random people swooping in and getting mines/herbs before you could.
Because of all this, smart players use other professions to make money. Buying a stack of herbs off the auction house saves you the time it would take you to farm it yourself (disregarding travel time to and from the Basin or the Peaks or wherever); I'd spend 25 gold on a stack of Icethorn to save myself ten minutes. I'm "spending" 150g/hour in opportunity cost, tops. I can then use that Icethorn to make glyphs; making a single glyph costs around nine seconds (to mill, craft, post, and gather from mail) and sells for around seven gold. You do the math. (Remember to include the price of Snowfall ink.)
Other professions do the same thing; making a scroll of whatever enchantment costs ten seconds (or eight seconds plus the cost of the vellum if that's cheaper) plus the cost of materials (some of which are free if you get them from random heroics you have other reasons for doing) and sell for a fair amount. Same goes for Jewelcrafting and Alchemy.
In fairness, however, your hours spent farming aren't limited. The gold per week and gold per month from crafting professions is limited by how much supply you can get on the AH, how much demand there is for your product, how much (or little) you're willing to work for, and how quickly you burn out from grinding out 2531656 recipes every two days. Farming only faces the burnout and demand problems. Crafters buy materials to last them in the event that prices rise and will often have a week's worth of material stockpiled; raiders buy product pretty much only when they must.
The best that extra profession slots would do for the economy is equalize everyone's gold/hour (likely down to the level of dailies). More likely, however, people will continue to be dumb and use the opportunity to take extra gathering professions, granting more supply to the crafters and making slightly more money themselves. They'd then use that money to buy things from the crafters and spend their spare times on the forums QQing about how people price glyphs/gems/enchantments/whatever so high when it's impossible to make enough money, or about people undercutting them, or whatever it is bads do on the official forums these days.
There is a gulf between the rich and the poor that is dependent entirely upon the intelligence of the people in the market. The bigger the gap in intelligence, the bigger the gap in wealth. If everyone were equally well informed, extra professions would close that gap faster - but it would close on its own anyway.
Edit: For clarification, the gap would close because competition in the crafting professions would increase supply of the product, reducing prices to the point where those professions wouldn't have ridiculously high gold/hour, and increasing the price of materials due to decreased supply (decreased number of farmers). Eventually an equilibrium would be reached where using any profession intelligently would yield the same gold/hour. (It won't happen.)