How much (if at all) do you think the recent economic crisis will effect gaming as a whole?

It's highly possible that in times when people can't afford to spend large amounts of money on themselves (holidays etc), they will seek out more thrifty forms of entertainment. This could even see a boom in the gaming industry.

I haven't taken the time to see if any articles on this subject have been written (can't access many sites at work), but I thought everyone at The Escapist might have some views on the matter.

Gaming while thrive consoles will slash prices (yay!) but piracy numbers will skyrocket.

There is indeed an article on the subject.
It stated that in dire economic times people tend to try to find distractions.
They said it will affect the game industry to a certain extend, but not as much as other fields.
Just like in times of war, comedy flicks are seen more than at any other time.

kanada514:

Just like in times of war, comedy flicks are seen more than at any other time.

Gone with the wind is a comedy? It is the most successful movie of all time and it was playing from December 1939-1943

http://en.wikipedia.org/wiki/Gone_with_the_Wind_(film)#Plot

The only enemy to the gaming industry is the industry fucking itself over, otherwise it's always been a very stable entity economically. As kanada514 said, when things get bad, people enjoy little distractions and gaming works wonderfully in that regard.

I keep hearing "Games are recession proof" etc. etc. - but with gaming probably being the most expensive form of media there is, I find it hard to believe.

It's good to be Nintendo, Rockstar, and Bungie though.