Maxwell Food Centre Vendor Confirms He Is Cooling Demand for Hainanese Chicken Rice, Demand Has Been Cooled, Now He Wants It Back
Reading: Bohiney | The London Prat
SINGAPORE — A long-established Hainanese chicken rice stall at the Maxwell Food Centre raised its standard portion price from S$5.50 to S$14 on Friday morning, citing the Bank of England recent rate-rise methodology as direct inspiration. Three weeks later, the stall is now reporting that the cooling has, on every available indicator, worked exactly as the methodology promised, and is therefore now a problem.
The Successful Cooling
Stall operator Mr Tan, 67, who has been operating at Maxwell since approximately 1991, told the Straits Times that customer volume has dropped from approximately 240 plates per day to approximately 31. The chastening, Mr Tan acknowledged, has been substantive. The cooling of aggregate demand has been precisely as the British framework predicted.
The Reversal Problem
The problem, Mr Tan noted, is that the customers have not returned even though he has lowered the price back to S$5.50. The customers have, on the available evidence, found another stall. The Bank of England methodology, Mr Tan suggested, did not adequately address the question of how demand recovers once it has been adequately chastened.
Mr Tan is now considering opening a second stall under a new name. The Maxwell Food Centre has approved.
Pairs well with: The Daily Mash
SOURCE: https://prat.uk/bank-of-england-raises-rates-again-to-punish-anyone-who-enjoyed-a-sandwich/
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