Thursday, December 21, 2006

Gift-giving is Economically Unsound

I'm not trying to beat a dead horse here, but if you were still intending to go all materialistic for the holidays (and that is your right, of course!) you should just pause one moment and check out this article suggesting that gift-giving is an inefficient use of resources from an economic standpoint!

Apparently, we only value gifts received at an average of 4/5 their intrinsic value! In other words, we as consumers know best how to spend our money at each marginal dollar. The conclusion to this is that buying gift certificates or giving cash is the most efficient way to allocate resources; of course, this is decried by the merciless consumerists and traditionalists as a kill-joy approach to Christmas (or birthdays, or what-have-you).

Scrooge just can't win, huh? (Thanks to ACOMMUNIST for the suggestion!)

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