It’s been a lesson in economics type week. First I leant that the law of supply and demand has led to (in America), prostitutes earning far less than they did 100 years ago. Now I learn that our cousins across the pond are applying the law of S&D to man’s greatest commodity: booze.
Yes, the Exchange Bar & Grill in Gramercy, New York has modelled itself on the New York Stock Exchange. So they have a ticker showing current drinks prices which fluctuate as customers’ drinking patterns change. They even have a bell that the bartender rings “when the market crashes”. This usually leads to trebles all round.
Levent Cakar, one of the partners in the business, holds a Masters degree in economics and explained the thinking behind it:”We want the atmosphere to be like the stock market. Except, unlike the stock market, nobody is going to have any stress or lose any money”.
So will we be seeing this phenomenon over here? Given the current level of ant-drink paranoia, it seems unlikely. A shame, really. I can picture the scene...Tandleman stockpiling pints of J.W. Lees in the THT. Drinking when prices are low, selling when prices are high. Who wouldn’t pay to see that?