Beer is a globally recognised staple and the price of beer is something that we can all relate to but let’s be honest – we all complain when the price of our chosen brew goes up and cheer when it goes down, but when we see the stock exchange figures scrolling across the bottom of the TV and news channels, generally speaking we have not got a clue what it all means. This is where Kalamazoo, a Michigan beer exchange comes into play with their ever-changing beer prices, all because of the fundamental principles of economics – supply and demand.
Positioned around the bar are a number of monitors giving the drinkers the latest price for their chosen brew and this is where the economics part of it all comes in to play.
The principle behind supply and demand is that as more of one product is consumed, the price will start to rise – this is the demand. The higher price will allow the [hypothetical] supplier to invest more to increase their supply to meet the demand. We can see this from the ‘Arcadia War Craft’ where the price has been driven up to $5.50.
On the other hand, some of the other beers are not consumed as much as others creating a backlog of supply. Bringing the price down step by step will entice people to start consuming that particular product in order to clear the supply backlog.
The same principles as seen in the beer exchange are mirrored in the real world stock exchange and at random intervals the beer market may crash, causing the prices to instantly drop thus giving a great deal on many drinks.
Personally I think that this type of bar is awesome and The Exchange, the people behind the construction of the bar and a few others across the land, should sure has hell get their feet over to the UK so that we can have just as much fun [and subliminal education] as those in the States. If you don’t understand supply and demand now then there is a strong chance you will after drinking there – even if you are slightly inebriated afterwards.
Source: The LAD Bible
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