Quote of the Day | 1222

22 years ago, Joel Waldfogel, an economist, wrote an article titled The Deadweight Loss of Christmas, in which he quantified something we all instinctively know: a lot of the presents that people give and receive aren’t terribly well chosen. We spend money on things that people don’t really like — and thereby we waste energy, material resources and labour that could have been far better deployed making something people did want.

Tim Harford, ‘In Praise of Scrooge’

[x]#12171 fan dinsdag 22 december 2015 @ 15:51:15