Nintendo’s Shigeru Miyamoto has been heavily involved in the world of videogames for quite some time now (going on thirty years), so if there’s anyone who could offer up insightful opinions about trends and marketplace pressures in this industry, it’s him.

So when, in a wide-ranging interview with The Economist, Miyamoto says that 2009’s slowdown in sales in the videogame market can be attributed to the fact that developers and publishers in the industry simply “were not able to produce fun-enough products,” you have to believe there’s an element of truth to the legendary designer’s words.

During the interview, the full question was put to Miyamoto, “How do you interpret the slowdown in sales in 2009? Wasn’t gaming meant to be recession-proof?” to which the designer responded:

“Well, I think any entertainment products are less susceptible to changes in the economy. The fact that in 2009 we were not able to sell more than we did in 2008 was simply that in comparison, we were not able to produce fun-enough products.

“There are always ups and downs in this business. As long as we create unique and unprecedented experiences with video games, there should be nothing to worry about.”

The interview discusses other supremely interesting topics as well, including Miyamoto’s thoughts on online gaming, where he sees the next wave of innovation coming from, how market saturation is affecting his work, and when he first had an inkling that the Wii would be a big success (Hint: when Nintendo’s non-gaming board members started messing around with the system).

Be sure to read the full interview with Nintendo’s Shigeru Miyamoto at The Economist over here.