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Scroogenomics
Why You Shouldn't Buy Presents for the Holidays
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Format: Hardback
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Book Hero Magic created this recommendation. While it's new and still learning, it may not be perfect - your feedback is welcome! IS THIS YOUR NEXT READ?
This book is ideal for readers interested in economics, holiday culture, or consumer behaviour, as well as anyone looking to rethink traditional gift-giving practices with practical and economic insight.
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See moreIllustrates how our consumer spending generates vast amounts of economic waste. This book provides explanations to show us why it's time to stop the madness and think twice before buying gifts for the holidays.
Joel Waldfogel is one of the smartest and funniest economists on the planet. I think of him every time I start to unwrap a present. Buy Scroogenomics for your friends and family. It makes the perfect Christmas gift. -- Ian Ayres, author of "Super Crunchers: Why Thinking-by-Numbers Is the New Way to Be Smart" Scroogenomics is a very well-written and entertaining read. -- Diane Coyle, author of "The Soulful Science: What Economists Really Do and Why It Matters"
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Description
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-honoured 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 recognising the difficulties of altering current trends, Waldfogel offers viable gift-giving alternatives. By reprioritising 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.
Book Hero Magic summarised reviews for this book. While it's new and still learning, it may not be perfect - your feedback is welcome! HOW HAS THIS BEEN REVIEWED?
Los Angeles Times praises Waldfogel for making a compelling case against holiday gift giving. Times Literary Supplement calls it a well-written, sensible, and humorous critique of Christmas shopping. Publishers Weekly highlights the book's timely challenge to consumer madness at the holidays, recommending it as a sensible read. Washington Times notes its accessible style and brevity, making complex economic ideas understandable to all.
Book Details
INFORMATION
ISBN: 9780691142647
Publisher: Princeton University Press
Format: Hardback
Date Published: 25 October 2009
Country: United States
Imprint: Princeton University Press
Audience: General / adult
DIMENSIONS
Width: 102.0mm
Height: 152.0mm
Weight: 170g
Pages: 192
About the Author
Joel Waldfogel is the Ehrenkranz Professor and Chair of Business and Public Policy at the Wharton School of the University of Pennsylvania. He is the author of The Tyranny of the Market and has been a columnist for Slate.
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