“’I started home brewing 17 years ago when I lived in Colorado, after leaving the mortgage business a few years back I met Jim and Lisa Hill from Corner Café and decided to start brewing craft beer for their customers. We removed some old equipment from their kitchen, installed a 35-gallon unit and started brewing. Mr. Webster’s experience and success at Corner Café fueled a desire to expand and Tequesta Brewing is the result.”"After leaving the mortgage business?"
Economist Arnold Kling has been promoting a new paradigm for thinking about macro-economics. He calls it patterns of sustainable specialization and trade, or PSST for short.
From Econtalk:
Kling rejects the Keynesian approach that emphasizes shortfalls in aggregate demand ...instead, Kling invokes the mutual exploration between entrepreneurs and workers for profitable opportunities that pay well using the workers' skills. This exploration takes time, involves trial and error, and can have false starts because businesses sometimes fail or employees are difficult to find or match with employment opportunities.I think the story of the brewer fits into this paradigm. The Keynesian story says, we have a decline in demand for mortgage related services, so we need to institute a policy that gets demand back up. It doesn't matter what kind of demand, just get it back up.
The PSST story sees it differently. Here we have an industry that attracted a tremendous amount of capital and labor, (a result of bad government policies perhaps), it was unsustainable, and now a re-calculation is taking place. Many people that made a living in the mortgage business just a few years ago are searching for a new, or perhaps their true, pattern of sustainable specialization and trade, and that process can be painful. I think that is was is happening with the mortgage banker turned brewer. And if the crowds that line up to taste his creations are any indication, I'd say his search is complete.
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