Bumper crop of Whine

NY Times article on the struggles of high priced wine:


Perhaps the laziest excuse for poorly sales of your products is to ‘blame the millenials’;  as if an entire demographic owes you something. But smirking aside, as a oenoscepetic,  my interest in issues in Napa are more related to industry  economics and consumer attitudes than they are in the developments of labels and vintages. This article depicts a looming crisis for high end wine labels out of Napa valley by focusing on Andy Beckstoffer, the valley’s largest land owner and the closest thing there is to a wine Robber Baron. The circumstances facing high end wine entails elements of declining conspicuous consumption,   creation and exploitation of externalities to  limit supply and competition and  a strong sense of entitlement.

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