An Economist’s Christmas

Merry Christmas and happy holidays to everyone! Enjoy our holiday greetings and analysis of the economics of gift giving.


Merry Christmas to all, even Thiago.

Bah. Humbug.

Merry Christmas, indeed.

2017 is one of the best years the USA has had in a very, very long time!

(But I'm sure you all saw that coming, right?)

Merry Christmas Tyler and Alex. Keep up the great work.

Yeah, and keep up the other work too.

No, it is not. More people believe life was better under Johnson, Bull Connor, Earl Warren and The Monkees than nowadays. Such is life in Trump's America. It is a long way to Make America Adequate Again. Sad.

Wow, is that a special effect to make one person look like two?

(Yes, I rarely use a PC with images - that is amazingly like a twins separated at birth comparison.)

Imagine the excitement if two twin separated at birth walked into the GMU economics department! A fight would ensue over who would study them and measure their IQ.

Both of them ending up at GMU would prove nature trumps nurture?

An early, Merry Christmas and Happy New Year!

Merry Christmas and God Bless!

Happy Ramadan b*tches! I fooled you all!

That is the nicest looking sweater I've seen Tyler wear in 30 years of knowing him.

Of course, this was a Straussian message for opposition to government "gift-giving". That's fine, as long as Cowen and Tabarrok acknowledge the connection between high levels of inequality and financial and economic instability. A cold day in Hell!

It would be an argument against government-offered goods, but not wealth transfers!

The view on Christmas and economics is interesting. The video gives information that we spend a large amount of money on gifts. This is significant because this impacts retailers significantly. The U.S Census Bureau listed 2014 sales at $616 billion. This is why I think these economists make a good point about gift but what I would be interested to know is how the lack of sales could impact the economy? Would there be a loss of jobs as a result with an increase in unemployment? These economists are referring to something called a deadweight loss. This loss is the difference between what the gift giver spent on the item and what he gift receiver would have paid for the item. They talk about charities that are worth while like cash directly. Some charities encourage donations of used items but that includes shipping costs. The cash directly makes sense since it does not have the extra fees and will help people in need buy exactly what the need.

m e r r y c h r i s t m a s !

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