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    The 'cronut' taking over baking world

    7:04 AM, Jul 1, 2013   |    comments
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    UNDATED (CNN) -- In business, it would be deemed a successful merger. For those in the culinary world, though, it may seem like an unholy union. We're talking about the "cronut."

    Whatever you may think about this hot new pastry, people in New York are lining up for hours to get their hands on one.

    This is the tale of where the donut married the croissant and created the cronut. A fried pastry filled with cream.

    That's literally selling like hot cakes. Cronuts are not for the fainthearted, only the truly dedicated who are prepared to stand outside and wait quite a long time.

    Dominique Ansel is the pastry chef who created this confection. He wasn't out to start a trend; he just wanted to bake something new.

    Besides being tasty, the cronut is an example of pure economics. Only about 300 are made each day. And because customers are limited and can buy just two, demand overwhelms supply. So, a $5 cronut sells for $40 or more on the cronut black market.

    Cronuts have gone, so has the queue. You can call this a New York fashion and fad or a trend. What you can't do is argue with success.

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