Confirming that Sizzler has officially put its signature fried chicken wings back on its all-you-can-eat entree menu. For about a year or two, Sizzler had removed the chicken wings from its menu and tried the business model of charging consumers approximately five dollars for six pieces. That business model did not work, just as I predicted. Customers turned away from Sizzler and went elsewhere. But with those chicken wings back on its all-you-can-eat menu, customers are returning to Sizzler. My family is among them. The only catch is that the all-you-can-eat price per person has, understandably, gone up a bit. We can count this as a victory for the free market. It is a perfect example of a business reacting to reduced consumer demand, completely free of government interference. Nobody lobbied, nobody held up signs and cried about inequality (oh brother) or mistreatment of workers or underpaying wages. Customers simply stopped coming and Sizzler noticed it quickly. Although the free market is victorious in most cases, there will always be some cases where reduced consumer demand is not enough to effectively counteract an entrepreneurial move that can be considered an act of greed. For example, I wish this same sort of thing would play out with Wells Fargo and the big financial institutions, but it is sufficient to surmise that it may not play out because of the immensity of consumers dependency on financial institutions to begin with. People do not depend on fried chicken wings the way they depend on quick, convenient access to their own money, which is something the big financial institutions always capitalize upon. Government intervention is therefore necessary in such a case.
Posted on: Tue, 30 Dec 2014 02:24:28 +0000
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