American Wine Economics

The U.S. wine industry is growing rapidly and wine consumption is an increasingly important part of American culture. American Wine Economics is intended for students of economics, wine professionals, and general readers who seek to gain a unified and systematic understanding of the economic organization of the wine trade. The wine industry possesses unique characteristics that make it interesting to study from an economic perspective. This volume delivers up-to-date information about complex attributes of wine; grape growing, wine production, and wine distribution activities; wine firms and consumers; grape and wine markets; and wine globalization. Thornton employs economic principles to explain how grape growers, wine producers, distributors, retailers, and consumers interact and influence the wine market. The volume includes a summary of findings and presents insights from the growing body of studies related to wine economics. Economic concepts, supplemented by numerous examples and anecdotes, are used to gain insight into wine firm behavior and the importance of contractual arrangements in the industry. Thornton also provides a detailed analysis of wine consumer behavior and what studies reveal about the factors that dictate wine-buying decisions.

A comprehensive and interdisciplinary approach to the economics of the production, distribution, and consumption of wine. Wine economics is a growing subfield that examines the economics of the production, distribution, and consumption of wine. In this book, Stefano Castriota takes a comprehensive and interdisciplinary approach to the study of wine economics, drawing on literature from industrial organization, welfare economics, economic policy, political economy, management, finance, health economics, law, and criminology.

The U.S. wine industry is growing rapidly and wine consumption is an increasingly important part of American culture. American Wine Economics is intended for students of economics, wine professionals, and general readers who seek to gain a unified and systematic understanding of the economic organization of the wine trade. The wine industry possesses unique characteristics that make it interesting to study from an economic perspective. This volume delivers up-to-date information about complex attributes of wine; grape growing, wine production, and wine distribution activities; wine firms and consumers; grape and wine markets; and wine globalization. Thornton employs economic principles to explain how grape growers, wine producers, distributors, retailers, and consumers interact and influence the wine market. The volume includes a summary of findings and presents insights from the growing body of studies related to wine economics. Economic concepts, supplemented by numerous examples and anecdotes, are used to gain insight into wine firm behavior and the importance of contractual arrangements in the industry. Thornton also provides a detailed analysis of wine consumer behavior and what studies reveal about the factors that dictate wine-buying decisions.

This Palgrave Handbook offers the first international comparative study into the efficiency of the industrial organization of the global wine industry. Looking at several important vineyards of the main wine countries, the contributors analyze differences in implementation and articulation of three key stages: grape production, wine making and distribution (marketing, selling and logistics). By examining regulations, organization theory, industry organizational efficiency and vertical integration, up to date strategies in the sector are presented and appraised. Which models are most efficient? What are the most relevant factors for optimal performance? How do reputation and governance impact the industry? Should different models co-exist within the wine countries for global success? This comprehensive volume is essential reading for students, researchers and professionals in the wine industry.

“It’s complicated!” That’s a simple way to describe the sort of relationship that seemingly defies simple explanations. Like a love triangle, money, taste, and wine are caught in a complicated relationship affecting every aspect of the wine industry and wine enthusiast experience. As wine economist and best-selling author Mike Veseth peels back the layers of the money-taste-wine story, he discovers the wine buyer’s biggest mistake (which is to confuse money and taste) and learns how to avoid it, sips and swirls dump bucket wines and Treasure Island wines, and toasts anything but Champagne. He bulks up with big-bag, big-box wines and realizes that sometimes the best wine is really a beer. Along the way he questions wine’s identity crisis, looks down his nose at wine snobs and cheese bores, follows the money, surveys the restaurant war battleground, and imagines wines that even money cannot buy before concluding that money, taste, and wine might have a complicated relationship but sometimes they have the power to change the world. His engaging and enlightening book will surprise, inform, inspire, and delight anyone with an interest in wine—or complicated relationships.

In War, Wine, and Taxes, John Nye debunks the myth that Britain was a free-trade nation during and after the industrial revolution, by revealing how the British used tariffs—notably on French wine—as a mercantilist tool to politically weaken France and to respond to pressure from local brewers and others. The book reveals that Britain did not transform smoothly from a mercantilist state in the eighteenth century to a bastion of free trade in the late nineteenth. This boldly revisionist account gives the first satisfactory explanation of Britain's transformation from a minor power to the dominant nation in Europe. It also shows how Britain and France negotiated the critical trade treaty of 1860 that opened wide the European markets in the decades before World War I. Going back to the seventeenth century and examining the peculiar history of Anglo-French military and commercial rivalry, Nye helps us understand why the British drink beer not wine, why the Portuguese sold liquor almost exclusively to Britain, and how liberal, eighteenth-century Britain managed to raise taxes at an unprecedented rate—with government revenues growing five times faster than the gross national product. War, Wine, and Taxes stands in stark contrast to standard interpretations of the role tariffs played in the economic development of Britain and France, and sheds valuable new light on the joint role of commercial and fiscal policy in the rise of the modern state.

In 1975 there were 125 wineries in eastern North America. By 2013 there were more than 2,400. How and why the eastern United States and Canada became a major wine region of the world is the subject of this history. Unlike winemakers in California with its Mediterranean climate, the pioneers who founded the industry after Prohibition—1933 in the United States and 1927 in Ontario—had to overcome natural obstacles such as subzero cold in winter and high humidity in the summer that favored diseases devastating to grapevines. Enologists and viticulturists at Eastern research stations began to find grapevine varieties that could survive in the East and make world-class wines. These pioneers were followed by an increasing number of dedicated growers and winemakers who fought in each of their states to get laws dating back to Prohibition changed so that an industry could begin. Hudson Cattell, a leading authority on the wines of the East, in this book presents a comprehensive history of the growth of the industry from Prohibition to today. He draws on extensive archival research and his more than thirty-five years as a wine journalist specializing in the grape and wine industry of the wines of eastern North America. The second section of the book adds detail to the history in the form of multiple appendixes that can be referred to time and again. Included here is information on the origin of grapes used for wine in the East, the crosses used in developing the French hybrids and other varieties, how the grapes were named, and the types of wines made in the East and when. Cattell also provides a state-by-state history of the earliest wineries that led the way.

Writing with wit and verve, Mike Veseth (a.k.a. the Wine Economist) tells the compelling story of the war between the market trends that are redrawing the world wine map and the terroirists who resist them. Wine and the wine business are at a critical crossroad today, transformed by three powerful forces. Veseth begins with the first force, globalization, which is shifting the center of the wine world as global wine markets provide enthusiasts with a rich but overwhelming array of choices. Two Buck Chuck, the second force, symbolizes the rise of branded products like the famous Charles Shaw wines sold in Trader Joe's stores. Branded corporate wines simplify the worldwide wine market and give buyers the confidence they need to make choices, but they also threaten to dumb down wine, sacrificing terroir to achieve marketable McWine reliability. Will globalization and Two Buck Chuck destroy the essence of wine? Perhaps, but not without a fight, Veseth argues. He counts on "the revenge of the terroirists" to save wine's soul. But it won't be easy as wine expands to exotic new markets such as China and the very idea of terroir is attacked by both critics and global climate change. Veseth has "grape expectations" that globalization, Two Buck Chuck, and the revenge of the terroirists will uncork a favorable future for wine in an engaging tour-de-force that will appeal to all lovers of wine, whether it be boxed, bagged, or bottled.