Wine & Value: Push, Pull, Squeeze

A cynic, according to Oscar Wilde, knows the price of everything and the value of nothing. For some reason, this characterization is often associated with “dismal science” economists like me. Today’s Wine Economist column hopes to make an exception to Wilde’s rule by focusing on wine’s value problem and how understanding it can help explain recent market trends.

Price versus Value

Inflation is on everyone’s mind these days (both as an election issue and in more general terms), so it is not surpr...