An Economist Gets Lunch – The Business Book Club

Business Book Review – for the Busy Business Owner

AN ECONOMIST GETS LUNCH: New Rules for Everyday Foodies, By Tyler Cowen, 293 pages. Dutton. $26.95 (Paperback) *

Rating:

Details: After hearing an interview with economist and foodie, Tyler Cowen on NPR, I was excited for an opportunity to review what I was sure would be an instructive read on how to get the best value from my very limited entertainment budget. Even though I have no problem picking good restaurants in my area of Atlanta, while avoiding tourist spots and chains, I don’t know where to eat in Chicago or Tuscaloosa, Alabama.  Having chewed through An Economist Gets Lunch, I’m now armed with a common sense rationale (emphasis on common) for what I’ve always known.

To be fair, An Economist Gets Lunch is not a guide to restaurants per se, nor is it a history of modern food production. At best, it’s a common sense account of how ingredients make their way around the world, why some foods are a better buy than others and how to use that information to make an informed choice wherever you are. Cowen does let the reader know that midtown Manhattan’s best buys can be found on the streets rather than the avenues. That’s because there are more streets than avenues, avenues have higher rents and more people (tourists) are on them. The rule here is: go low rent where the focus is on the food rather than the turnover.  This makes good sense.

Unfortunately, by the end of Chapter 1, I was not pleased with his odd prose style and confusingly contradictory opinions. For example, in an early chapter, Cowen instructs readers to avoid dishes in the US that are “ingredients-intensive” because raw ingredients here—vegetables, butter, bread, meats, etc.— are below world standards. Instead, when ordering in the U.S., we should go for dishes with sauces and complex mixes of ingredients, i.e., “composition-intensive.” But he offers no proof that U.S. raw ingredients are below standard; instead he relies on such notions that our sardines aren’t fresh.  What’s more to the point is that bread is better than it’s ever been, ditto tomatoes and other farm products, especially when locally grown and bought.

I was particularly “confused” if not offended by his random comparisons, especially when generalizing about “locovores” (people who like to eat locally sourced foods) by assuming these foodies are looking to save the environment.  After setting up this false argument, he contends that local farmers damage the environment by making two-hour truck drives, comparing this to shipping bananas by boat, which is cheaper.

Of course, I was hoping to unearth some information or insight to share with our restaurant owners. These folks probably know already that restaurants rely on either high turnover or good food but rarely both. They might also know that hip people aren’t necessarily good judges of food; that small towns yield the best barbeque; and to avoid Thai restaurants with big bars and sushi because these are distractions. Restaurants that distract diners from food are not good restaurants.

I can’t recommend this book, thanks to Cowen’s naughty habit of interjecting his political opinions into every chapter. All this does is make me suspect him of self-indulgence. From what could have been, indeed, has been marketed as a guide to foodie common sense from someone who understands both taste and economics, I found too little of either expertise on the page.

What I’d still like to know is how restaurant owners work with resources and ingredients immediately to hand and with those imported items customers enjoy. How do you make economics work with a passion for the food?  If nothing else, Cowen has made me think about these two, often conflicting, essentials. I may not have enjoyed this book, however it has made me think and want to discuss the issues presented.

*An Economist Gets Lunch is currently available in paperback and Kindle formats.

 Amazon link for paperback print version reviewed here: http://www.amazon.com/An-Economist-Gets-Lunch-Everyday/dp/0525952667

For more information on the author’s work, visit: http://tylercowensethnicdiningguide.com/ 

Based on this review, would you read this book?

The author of this review was provided the book by Capital Access Network, Inc.  The views expressed represent those of the author and do not reflect those of Capital Access Network, Inc. nor its subsidiaries. Any opinions and/or advice expressed by the author do not imply endorsement by Capital Access Network, Inc. nor its subsidiaries.

Small Business Seasonality: Series Wrap Up

Preparing for upcoming seasons

Every business is different and customer needs are based on many factors – season is only one of them. However, knowing the seasonality of your business is vital to its success. And, knowing how to maximize profits during your “high” season and how to market creatively during “low” season is important.

In our series, we’ve highlighted five business types and discuss seasonality as it relates to them. We discussed the “climate” of your business (location) and ways to cope with that. We also discussed seasonal challenges in the retail industry and how Spas can make seasons work for them. We provided a few tips to help the automotive industry throughout the year and the importance of seasonal specials for bowling alleys.

Here is a recap of what our Small Business Seasonality series:

To see these tips combined into an eBook, click here.

For future eBook notification, sign up for email alerts at http://www.advanceme.com/ebooks.html

Promoting your Restaurant

The 21st Century Culinary Quest

Promote your RestaurantIf you want your restaurant, café, or bistro to thrive, you need to promote it where the customers go to help them make their decisions. 

It seems that the scientists and statisticians at Pew  conducted an exhaustive study titled How People Learn About Their Local Community and came to some very interesting conclusions.

They discovered the following: 

  • Most people go to their local paper to get information about the goings-on in their community such as crime, government issues, and cultural events, among others.
  • Television was hot when people wanted to find out about the weather or news stories that were best reported from the cockpit of a helicopter or the front steps of city hall.
  • Not surprisingly, radio was the go-to source for information on traffic jams.
  • And, when it came down to where people look when they are trying to decide where to go eat, the Internet won, hands down. 

Most cities have their own assorted community pages, mostly run by local businesses or the media. Microsoft long ago had their fingers in this pie, starting back with their local Microsoft Sidewalk websites. Of late, sites like Zagat and the rapidly growing Yelp! smartphone app provide consumers with unbiased (if somewhat uneven) real-person reviews, as well as physical directions to the different restaurants. Finally, there are many independent local bloggers who report on the different goings on in any given locale. 

What this all comes down to  is the conclusion that smart restaurateurs will spend part, if not most, of their advertising dollars online, where their ad will never end up in the recycling bin. Truth be told, more weight should be put in what a non-paid, real customer has to say about a place than what some highly polished marketing pro comes up with, anyway. 

In conclusion, a bit of advice to you restaurateurs who want new business:

  • Save your money on the newspaper ads. People might look at them, but they are going to see what other real (as in “not on your payroll”) people have to say about your place.
  • Have someone post a review of your place of business on popular sites such as Yelp or your local CitySearch.com page, or add your business in the AroundMe smartphone app. Promoting Your Restaurant
  • Encourage your most loyal customers to offer reviews on local-focused entertainment and leisure websites.
  • Make friends with your local food critics, both independent and affiliated with media outlets.
  • If you’re going to purchase advertising, spend your dollars in the media that most diners trust.
  • And finally, do a regular search for reviews of your place on the sites listed above, as well as any others indigenous to your area. Show both your gratitude for the good reviews and your commitment to turn even your biggest detractors’ opinions around. Even if doing so costs you an undeserved free meal, the payoff in customer relations will be far greater than the cost of the food you serve.

Tell us how you promote your restaurant or business.