Artifically Inflated Prices

The Slate has an excellent article on Robert Parker and his personal effect on the wine industry including his 100 point rating system and how that system has created artifically inflated prices on some wines in the market. Parker invented the system in 1978 which ranks wine on a scale from 50 to 100 points, on color and appearance, aroma and bouquet, flavor and finish, and overall quality level or potential. In Parker's system, 90-100 points is called outstanding, 80-89, very good and 75-79 above average. Here is the breakdown of how the 100 point system was developed:

50 existence
5 color and appearance
15 aroma and bouquet
20 flavor and finish
10 overall quality level and/or potential for improvement

Based on this system, a glass of water would get at least 50 points.

Maybe it's time for a new wine rating system or maybe, as Mike Steinberger's suggests in his article, Parker start to slowly stop the ratings altogether.