, Columnist
Gift-Giving Is Good for All of Us
The science behind gift-giving.
This article is for subscribers only.
The Christmas season is a fraught one for economists. Gift-giving is so inefficient! Just as some complain that food stamps are bad because they force the poor to consume their benefits in the form of food rather than something they might want more, folks like Joel Waldfogel bemoan our tendency to give each other tchotchkes instead of sensibly spending money on something we actually want.
But don't worry, giving gifts is still a good idea: good for you, and good for society.