The economics of why Noma is closing

Here is the take of yours truly:

Tyler Cowen, a professor of economics at George Mason University in Fairfax, Va., and a devoted restaurant-goer, says that people are misinterpreting Redzepi’s intentions with the closure. Cowen doesn’t think the chef is arguing that he can’t make money with Noma and its grand artistic ambitions. It’s just that he can make more money doing other, perhaps less stressful, things.

“He’s so well-known now, he can just do private events, cook for billionaires, special weddings and work two months a year or whatever and make more than he’s making in the restaurant,” Cowen says. “He’s the one who’s going to earn from here on out. Why slave every night till like 2 a.m. in a restaurant when you can set your own schedule and price discriminate, charging the super wealthy?”

Here is the longer WaPo article by Emily Heil and Tim Carman, presenting other views as well.

The post The economics of why Noma is closing appeared first on Marginal REVOLUTION.

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