It’s not what you eat, but where you eat

If you had to pick between dining out in a fancy restaurant in a rich country or a rundown establishment in a poor country, where would you go?

For most people, the answer would be obvious. But Tyler Cowen, a professor at George Mason University in Washington D.C. and the author of Discover Your Inner Economist says that’s not a wise decision.

“If the quality of food is the sole mission, Cowen argues, look for contrary indicators. “Iron bars on the windows,” he writes, “and barbed wire on the fences, however bad for the residents or your own safety, are both good signs for the food.” The magic ingredient, he elaborates, is extreme income inequality, which ensures a large reservoir of cheap labor to grow and prepare the food, as well as a sufficient number of rich people who, being rich, must eat well.”

Read the full story here: Discover your inner economist


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