Dry (as in Bordeaux) Friday reading

I have mixed feelings on economic theory. Most of it seems based on a hypothetical, perfect world, which is alright, but I’m still not sure why people extrapolate findings to explain the actual world we live in.  The repercussions can be quite grand…

But I do love this fun blog post by a most serious Harvard economist that blends economy and oenonomy in a heady bouquet to explain the real impact of terroir on wine prices.  The author, Robert N. Stavins, is one of the founding editors of the major wine journal, whose proceedings are apparently tracked (and mocked) by none other than Stephen Colbert. So, if you’re not an econ geek or wine snob, perhaps that will compel you to read on.

(image source: google images)

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