ALL-IN ON BOOK REVIEWS: Do you have a (non-fictional or fictional) book related to wine, spirits, or beer that you'd like reviewed? Contact me!

Sunday, November 12, 2023

Book Review: Wine Economics by Stefano Castriota

I was sent this book to review in December of 2020, just after one very difficult event in my life and just before another. Needless to say, I never got around to reading it until now.

Wine Economics was originally written in Italian, and later translated into English by and for the use of MIT (Massachusetts Institute of Technology) in 2020, with the addition of bringing the United States' Prohibition into discussion. I'm not sure when the original Italian version was printed, but none of the studies referenced or data given in the book took place after 2016. Being almost 4 years old (or older) there are just a few things that are probably a little out of date now but no big deal as they're still relevant. There is one that will give you a chuckle, though: When it states that there couldn't be a new adult beverage genre that could hurt sales of all other existing adult beverages, it clearly didn't see the canned cocktail craze coming.

Wine Economics covers EVERYTHING in, well, wine economics. From the vineyard, to the winery, to the consumer. It includes important things that need to be understood in the wine world, such as why prices will keep going up as the temperature does from climate change, the profound universal impact of cooperatives in every industry, how rapid increasing of appellations could cause consumer confusion, and even the benefits of local vineyards for people who do not drink.

It is very much a university textbook, so be prepared for reference names and years very, very often. Certain parts of the book were hard for me to get through, with my ADHD, because of this distraction occurring so often. Also, there are a lot of graphs and none of them made a lick of sense to me. Numbers and graphs are not the kind of smart I am.
"For every company that records very heavy losses, there is another that makes huge profits."
What is completely fascinating about this book is that it breaks down things in way that other wine books do not. When it talks about New World vs Old World, it just doesn't talk about style or laws. It breaks down, at length, the differences of production, distribution, company structure, marketing, and consumption, as well.

Because this is Wine Economics book, it isn't trying get you to have an opinion on something or make you believe in one side of something. It's simply stating facts, and it points out a lot of conflicting studies when it needs to be said there is a real reason for not having full evidence of something. Studies are so inconsistent on whether or not heavy investments in quality lead to actual higher profits, that it might not. There is less money invested in making an ocean of swill, and its sold for less, but it sells more. Apparently the only investments consistent for higher profit is aging, advertising, and promotion.

Also, take alcohol abuse, for example. There is no evidence that alcohol abuse is more prevalent with the poor and/or unemployed than the rich and/or employed because studies are always so different. It could be that the rich and/or employed have the means and tools to hide alcohol abuse better. But it also nails down consistent studies that leave no doubt of their accuracy, such as alcohol abuse is much higher in newly legal consumers and the elderly than those aged between.

This book is not for everybody. As I said, it is very much a university textbook with a lot of information and ZERO personality in its narration. But boy, did I learn a lot about things that I didn't even know that I wanted to know with all that information. The amount of research on statistics and studies done to make this book is staggering.
"Building a reputation requires significant short-term investments to obtain long-term returns."
Here's a list of things included in Wine Economics that I thought were worth mentioning:

Chapters 1-2: Costliness of consumption trends to wineries, concentration of varieties due to globalization, wine publicity's focus on higher quality win instead of the more produced and consumed jug and bulk wine, why wine prices will increase as the temperature does with climate change, grape growing contracts with wineries, how prices are established

Chapters 3-4: Porter's five forces of the wine sector (threat of new entrants, bargaining power of buyers, bargaining power of suppliers, threat of substitute products or services, rivalry among existing competitors), the structure of different forms of wine companies and their motivations, the profound universal impact of cooperatives in every industry (and how their existence has been ignored in education since McCarthyism), the innovation boost of industrial clusters

Chapters 5-6: big statistical study break-downs on if investments in wine collecting are are actually worth it, wine auctions, winery stocks, risk insurance for damage and currency, investment theory (there is all sorts of calculus-like formulas here and I have no idea what the heck is going on), collective and individual brand reputation, institutional reputation with explanation of European classification systems, problems with Italy's system, rapid increasing of appellations creating consumer confusion, studies on social capital of communities

Chapters 7-8: externality consequences and solutions for wine producers and consumers, the benefits of vineyards for those who do no drink wine, benefits of moderate consumptions (such as reduction of risk of cardiovascular disease), damage from abuse (physical and mental health, work, suicide, accidents, violence, cost in society), combating and preventing abuse, services like Uber may have increased alcohol abuse and bar employment, taxation of alcohol, USA's three-tiered system, the unlikely team-work of alcohol distributors and anti-alcohol movements (joining together to fight free distribution)

Newer Posts Older Posts Home



    ICQ 752822040 , @killhacks
    Tel.G @leadsupplier , @killhacks
    Skype|Wickr @peeterhacks
    Email bigbull0334 @ onion mail . org


    High quality databases available
    Fresh spammed from reliable resources
    Bulk buyers will get big discount offers
    24/7 assistance

  2. Just delved into Wine Economics by Stefano Castriota – a fascinating exploration of the economic nuances in the world of wine. Eager to deepen my understanding further, considering the option to buy assignments that delve into similar economic analyses. Recommendations for reliable services appreciated

  3. HACK VANISH CREDIT SPECIALIST has been my saving grace, going through a nasty divorce was so disastrous on my credit. I can’t thank them enough for taking my credit profile out of the garbage after my divorce which brought down my credit score to 518, with 10 negative items, credit card loans, and eviction. HACK VANISH CREDIT SPECIALIST did such an amazing job, cleared all the negative items, and restored my credit score to 781 just within a couple of days after I was introduced to them by my pastor. This company was so professional and amazing at keeping in touch with me throughout the process. HACK VANISH CREDIT SPECIALIST services are strongly recommended to anyone in need of a perect credit solution. find as follow their contact info: Email-HACKVANISH @ GMAIL. COM or Phone: (2 0 9 ) 3 3 0 - 3 0 4 7.

  4. Only a tiny percentage of professional hackers have the specialized hacking abilities and knowledge needed to recover lost BTC, Facebook hacking and Catching a cheating partner via a Whatsapp link. Finding a reliable hacker like Osecybersailing is preferable.
    I lost $358k in BTC to bitcoin mining, and Osecybersailing was able to retrieve it. In my darkest hour, when my Bitcoin was lost and hope seemed but a distant memory, Osecybersailing and their extraordinary team emerged as the catalysts of change.
    Their exceptional knowledge and relentless determination propelled me towards recovery, restoring my faith in the crypto world, Facebook/Whatsapp hacking.
    If you find yourself lost in the depths of lost Bitcoin, facebook and Whatsapp hacking, let Osecybersailing's team guide you towards the light of redemption.
    Facebook page:Osecybersailing

  5. The need for more legitimate hacking companies are rising each passing day because of the magnitude of scams being run on the Internet. I know what I went through before I was able to contact Osecybersailing to work on my case after getting scammed multiple times and trying to retrieve back my lost investment funds. After I have invested $670k usd with a fraudulent crypto investment company and i lost everything in the space of one month and got scammed again and again trying to find a solution which wasn't easy to come by given the circumstances that brought about the incident, getting scammed multiple times is never a good experience for anyone involved which was what exactly happened to me when I got scammed investing into crypto currency. Many posing on the Internet as hacking companies aren't really what they are because most of them are scammers waiting for a prey to devour, I got referred to reach out to Osecybersailing through a friend and after I investigated about their legitimacy I came across many of their testimony from their satisfied clients that got their lost investment funds retrieved working with this legitimate and evergreen hacking institute which also changed my story helping me retrieve back my lost investment funds. Many of the testimony really were saying great and worthy things about how the company saved them from financial loss, I decided to hire them after many consideration and they didn't disappoint me by making the choice of choosing them after what I have experienced lately trying to get my funds back from the scammers. They proved they can be trusted with the recovery of lost investment funds which is why I wrote this down for other victims of scam who wishes to ever retrieve back their lost investment funds to let Osecybersailing solve their case, they're worthy and has what it takes to restore back your funds and peace of mind. If you also wish to check your partner Whatsapp conversation to know if he/she is cheating then Osecybersailing is the best team for you.
    If you find yourself lost in the depths of lost Bitcoin, facebook and Whatsapp hacking to catch your cheating partner, let Osecybersailing's team guide you towards the light of redemption.
    Facebook page: Osecybersailing
    Whatsapp: +4917617861530

  6. A revolution in banking has been brought about by the digital era, with cryptocurrencies like Bitcoin taking center stage. But there are also risks associated with this emerging field, the most frightening of which being the possibility of losing digital assets. This is when Osecybersailing and it's team steps in like a shining knight, equipped with the formidable weapon of Bitcoin recovery. My valuable Bitcoin was stolen via a technical error, leaving me hopeless. My dreams were almost dashed by the cold reality of irreversible blockchain transactions. However, there was a ray of hope that emerged from the shadows when I came across Osecybersailing and it's team. Equipped with state-of-the-art equipment and years of experience, their team of professionals painstakingly navigated the blockchain maze, following even the smallest digital traces of my misplaced funds. The fact that my Bitcoin appeared, safe and sound, back in my wallet in a very short amount of time was a credit to their commitment and competence. It restored my faith in the security and reliability of the crypto ecosystem. But my testimony is more than just a celebration of Osecybersailing technical abilities. It also serves as a rallying cry for ethical cryptocurrency stewardship.
    If you find yourself lost in the depths of lost Bitcoin, facebook Account and Whatsapp hacking to check if your partner is cheating, then let Osecybersailing and it's team guide you towards the light of redemption.
    Facebook page: Osecybersailing
    Telegram: osecybersailing



*SPONSORED* ABriefHistoryOf Abruzzo Agiorgitiko Aglianico Airen Albarino Aleatico Alentejo Alexander Valley Alicante Bouschet Alsace Apothic Argentina Armagnac Arroyo Grande Arroyo Seco audio article Australia Austria Baco Barbera Barrossa Valley Batman Beaujolais beer Best Of biodynamic blend blog Bogati Bonarda book Bordeaux bourbon box wine Brachetto brandy Bulgaria Burgundy Cabernet Franc Cabernet Sauvignon Cahors Caino Blanco California Campania Canada Canaiolo. cans Cape Cod Captain America Carignan Cariñena Carmenere Catalonia Cava Central Coast certification Chablis Chalk Hill Champagne Chardonnay cheese Chenin Blanc Chianti Chile China cider Cinsault Clarksburg cocktails Cognac Colombard Columbia Valley comics Cotes-du-Rhone Counoise Croatia CSW Dane Cellars DC dessert wine Distill Wars Dona Blanco Douro Dry Creek Dunnigan Hills Edna Valley Falanghina February Felix Hart Fer Servadou Fiano fiction Finger Lakes Folle Blanche formulas France Franciacorta Frankovka Frappato Furmint Galicia Galilee Gamay Garganega Gascony Germany Gewurtztraminer gin Glera Godello Graciano greco di tufo Greece Grenache Grenache Blanc Grillo Gros Manseng Gruner Veltliner GSM guest blog Heroes history horror how to Hungary interview Israel Italy Japan Jerez Kansas kosher Lambrusco Languedoc-Roussillon Left Coast Leyda Valley Lisboa Livermore Lodi Loire Loureira love letter Macon Madeira Madiran Malbec Malvasia Marcillac marijuana Marlborough Marsanne Marselan Marvel Massachusetts Matchbook Mavrud Mazuelo McLaren Vale mead Melnik Mencia Mendocino Mendoza Meritage Merlot Mexico Michigan mixology Monbazillac Monstant Montecucco Montepulciano Monterey Montery Moscato Mosel Mourvédre Muscadelle Muscat mythology Napa Navarra Nebbiolo Nero d'Avola New York New Zealand news non-alcoholic nonfiction Norello Mascalese North Coast Oakville Oregon organic original meme pairings Palestine Pecorino Pedro Ximenez Perricone Petit Verdot Petite Sirah Petite Verdot photo gallery phylloxera Picpoul Piedmont Pinot Blanc Pinot Gris/Grigio Pinot Meunier Pinot Noir Pinotage Pliny podcast Port Portugal Press Release Primitivo product Prosecco Provence quickie quote rakia recipe retail problems Retsina review Rheingau Rhone Rias Baixas Ribera del Duero Riesling Rioja Rondinella rose Roussanne Rubin Rueda rum Russian River Sagrantino Sake Salta Sandanski Misket Sandeanski Misket Sangiovese Sangria santa clara Santa Lucia Higlands Sauvignon Blanc science scotch Sekt Semillon Seyval Blanc Sherry Sicily Somontano Sonoma South Africa South Australia Spain spark Sparkling Spider-Man spirits stemware storage study sulfites Superman sustainable SWE Syrah Tannat Teenage Mutant Ninja Turtles Temecula Tempranillo Tequila Texas thc The Flash Tinta Amarela Tinta Caiada Torrontes Touriga Nacional Traminer Trebbiano Trincadeira Turkey Tuscany Ugni Blanc Umbria USA Valdiguié Valiant Valpolicella vegan Veneto Verdejo Verdicchio Vermentino Vermont Vermouth Vernacca Vidal Blanc video Vinho Verde Viognier Virginia Viura vodka Walla Walla Washington State whiskey White zinfandel Wildstorm Willamette wine Wine Bloggers Off-Topic wine club Wine Pick Wolverine Wonder Woman Zinfandel Zweigelt