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Why You Shouldn't Buy Presents For The Holidays
Princeton University Press
November 2009
On Sale: October 25, 2009
186 pages
ISBN: 0691142645
EAN: 9780691142647
Hardcover
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Self-Help
Christmas is a time of seasonal cheer, family get-togethers,
holiday parties, and-gift giving. Lots and lots--and
lots--of gift giving. It's hard to imagine any Christmas
without this time-honored custom. But let's stop to consider
the gifts we receive--the rooster sweater from Grandma or
the singing fish from Uncle Mike. How many of us get gifts
we like? How many of us give gifts not knowing what
recipients want? Did your cousin really look excited about
that jumping alarm clock? Lively and informed, Scroogenomics
illustrates how our consumer spending generates vast amounts
of economic waste--to the shocking tune of eighty-five
billion dollars each winter. Economist Joel Waldfogel
provides solid explanations to show us why it's time to stop
the madness and think twice before buying gifts for the
holidays. When we buy for ourselves, every dollar we spend
produces at least a dollar in satisfaction, because we shop
carefully and purchase items that are worth more than they
cost. Gift giving is different. We make less-informed
choices, max out on credit to buy gifts worth less than the
money spent, and leave recipients less than satisfied,
creating what Waldfogel calls "deadweight loss." Waldfogel
indicates that this waste isn't confined to Americans--most
major economies share in this orgy of wealth destruction.
While recognizing the difficulties of altering current
trends, Waldfogel offers viable gift-giving alternatives. By
reprioritizing our gift-giving habits, Scroogenomics proves
that we can still maintain the economy without gouging our
wallets, and reclaim the true spirit of the holiday season.
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