Category Archives: Food and Drink


Much of the latest issue of the Economic Journal is devoted to the contribution that economics can make to early assessments of the quality of wine, a field first popularised by Orley Ashenfelter. Here’s a summary.

Posted in Economics Generally, Food and Drink | 1 Comment

The Cost of Drugs

Another interesting paper from the NBER meetings. In A Critique of the Estimates of the Economic Cost of Drug Abuse, Jeffrey Miron attacks the estimates produced by the US Office of National Drug Control Policy on the costs of drug … Continue reading

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Milton Friedman Comes Out for Pot

Milton Friedman, one of the doyens of the economics profession, is one of 500 economists who has just come out in favour of legalising marijuana. The push is centred around a new study by Boston University’s Jeffrey Miron, which looks … Continue reading

Posted in Food and Drink | 2 Comments