Upon return from a family vacation three summers ago, economist Ike Brannon remarked at a subsequent lunch about an individual at the resort who was almost literally covered in tattoos. This was an expensive resort, and Brannon wondered how he and his family were sharing the same pool. To be clear, Brannon’s wonderment about the inked up vacationer wasn’t of the nose-upturned variety; rather he wanted to know what profession afforded so much individuality and disposable income.
It turns out his poolmate was a chef. To younger readers, the mention of chef likely elicits a “so what?” response. For those born in the 1970s or earlier, the response is different. We remember. We remember when chef was a “dead end” job for, yes, people with tattoos. They were referred to as cooks then. It’s a long or short way of saying that the economic thinker in Brannon was celebrating the happy truth about prosperity: it elevates all manner of genius (this phenomenon has been referred to in a book by yours truly as “Tamny’s Law” – look it up) that a lack of abundance suffocates. This man covered in tattoos seemingly possessed Einstein-like qualities in the kitchen that afforded him fancy vacations. How fortunate about the time in which he was born. Had he come of age a generation earlier, he and Brannon almost certainly wouldn’t have been at the same pool.
The exciting truth about prosperity kept coming up in Dana Brown’s new book, Dilettante: True Tales of Excess, Triumph, and Disaster. It’s a very enjoyable memoir of the glory days (and very chillingly, the declining ones too) at Vanity Fair, and it’s perhaps unwittingly very informative for those seeking a much better understanding of economics. The view here is that there’s an exaggerated quality to the book’s “True Tales” subheader that will sometimes bother the literal in our midst, but this will just add to the fun for those simply looking for fun. Brown’s book very much delivers in the fun and interesting category, but there’s also a lot of very worthwhile learning for those who want to. It’s easy to recommend.
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