Tyler Cowen is the not the first person I would think to consult about finding a great restaurant. He's a professor of economics at George Mason University and author of New York Times best-selling e-book The Great Stagnation as well as writer of critically-acclaimed economics blog marginalrevolution.com. But his genuine love for food combined with his background in economics have made him an unlikely expert on the subject. He recently authored An Economist Gets Lunch: New Rules for Everyday Foodies which covers everything from how food in America became so bland and mass-produced (he blames prohibition, strict immigration laws, and kids!) to why Mexican food tastes different in Mexico and the US. His insights into how supply and demand, cross-subsidies, and technological advances influence food is fascinating. I picked up the book at my local New York Public Library to educate myself on the economics that drive food.
My favorite chapter by far was "The Rules for Finding a Good Place to Eat" which offers practical tips for finding good, cheap restaurants. Here are some highlights:
- Eat at a restaurant on a side street: Restaurant owners, like the rest of us, have to pay rent. Rent along the long avenues, where there is heavy foot traffic compared to side streets is exorbitantly more expensive than on side streets. And that cost is factored into the price of each meal. A restaurant located on 5th Avenue and one just around the corner on say, 50th Street may have the same quality food but the one on 5th Avenue will have to priced their dish higher to accommodate the higher rent. Plus, chances are that if a restaurant is surviving on a side street without the business of the multitude of tourists who eat at places on main streets, it is probably pretty good!
