The Brockley Cross Shuffle

"The classical model of rational expectations may be a worthwhile theoretical hypothesis, but does not describe the real world very well."

A while back, we wondered aloud how smart Brockley Cross landlords were. They priced-out the incumbent flower shop, Nicki Fianders, in the hope of attracting higher-paying tennants to a failing stretch of shops bordering the double roundabout.

It is now six months since the old shop closed and, despite a makeover, there is still no new shop in place (six months lost rent). But now, finally, it is being fitted out. Ominously, the workmen have just installed a glass screen (complete with a little slot) over the new counter. It's doubtful that any business requiring an impenetrable barrier between shopkeeper and customer is going to take the area upmarket in the way that the landlords perhaps imagined when they evicted the florist. Still, the new owners will doubtless be able to swap customer-care tips with 'Duke' opposite.

Meanwhile, the old Nicki Fianders sign has appeared above the neighbouring shop, previously occupied by the now-defunct Yana, through whose doors we never saw a single customer pass.