As wine economist Mike Veseth peels away layer after layer of the money-taste-wine relationship he discovers the wine buyer's biggest mistake and learns how to avoid it, enlists in the "restaurant wars" and toasts anything but Champagne. His engaging and enlightening book will surprise, inform,...

Why do people vote for (and against) moderate rent controls? The microeconomic effects of rent controls are complex-they affect both renters and homeowners in many ways, creating a complicated pattern of winners and losers. Renters stand to gain initially from the controlled rents, but...

This paper defines the relationship between the nominal (or money) income elasticity and the real income elasticity of a tax system. Under most circumstances, the real and the nominal income elasticities differ. This difference has not been recognized by economists who rely strictly on nominal...