Friday, May 16, 2008

Beer roundup

Several stories on beer and economics. [Click on image to read sign on store.]

1. Inflation - A Lunch in Zimbabwe (Ian Brakspear) : "During the meal, one of my mates was drinking beer — 750ml bottles of Castle Lager (fondly called bombers). He ordered a fifth one, was advised that the price, which when he ordered his first, second, third and fourth ones was 160 million [Zimbabwean dollars] per bottle, had gone up to 340 million per bottle.
That's right — during lunch there was a price increase…"

2. Time - The Rich Drink Better Beer, Not More (Daniel Hamermesh) : "The reason is simple: it takes time to consume quantities, while the consumption of high-quality goods takes no more time than low-quality goods; and as we get richer we have no more time — we all face 24 hours in the day."

3. Prices of other goods - Miller CEO says more Americans are drinking cheap beer :

MILWAUKEE - Consumers still want different types of beers, but for a growing number with empty pockets, that means less expensive ones, the chief executive of Miller Brewing Co. said Thursday.

The Milwaukee-based brewer saw a small increase in sales of economy beers like Milwaukee's Best starting in January, at the expense of higher-priced brews, Tom Long told The Associated Press in an interview.

It's a direct result of people having less disposable income as they grapple with higher gas and food prices, he said.

4. Let's not forget that in 2006 Congress made this American Craft Beer Week.

1 Comments:

Blogger Undercover Dragon said...

I love the Zimbabwe story. Incredible what one person can do to a country...

It must be great for economics lecturers across the world tho'!

5:08 PM  

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