Assorted links  by on September 24, 2011 at 5:25 pm
in Uncategorized | Permalink  1. Are we now in a pure credit
economy?  2. Exploding markets in everything, law clerks
edition.  3.  “Morlocks aside…”  4. One theory of cocktail
prices.  5. Department of unintended consequences, Star Wars
edition.  Mike September 24, 2011 at 8:28 pm  The REAL story of
cocktail prices begins with the liquor licenses and the
monopolies of distribution, both of which are controlled by
government.  The margins on cocktails are so large, the price is
determined not by input prices but by customer willingness to
pay. Bartenders are generous with their pours and are allowed to
be. They’ll make additional profit by encouraging top shelf or
call drinks that add a buck profit to every glass.  Contrary to
CW, the customer isn’t buying a cocktail. Rather, they are
buying the social scene. The sexual lubricant called alcohol is
either a signal of sophistication or a security blanket,
depending on your skill and confidence.  But like movie