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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