Deadweight Loss Of Christmas – IOTW Report

Deadweight Loss Of Christmas

An economist back in 1992, Joel Waldfogle, calculated the gap between what was spent on Christmas presents and the utility the gift brought to the recipient. The difference between buying and actually desiring the gift given was estimated to be $4 billion to $13 billion (twenty seven years ago). More

Given that the weekend before Christmas is now upon us, many are probably out today elbowing their way through the shops, searching for the right gift before time runs out. If just handing the recipient an envelope of cash (which was the original recommended remedy and one of my favorite scenes from “Donnie Brasco“), here are a few other options to avoid the deadweight of Christmas gift giving. Here

26 Comments on Deadweight Loss Of Christmas

  1. Years ago we started a tradition of only exchanging items that can be either eaten or drank. The results exceeded everyone’s expectations and lowered the stress factor to zero.

    Every family has recipes passed down from generations specific and loved by each member. Whether it be cookies, date nut bread, a pecan pie, or even a fruitcake.

    Even store-bought items are OK; gourmet coffee, smoked salmon, peppermint bark, a nice bottle of scotch, it’s all good. Nothing ever gets returned, never the wrong size or color, and the best part, nothing to store afterward since it all gets eaten.

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  2. ….and that’s why I’m buying ’18 to20 foot pontoon boat for me’ gift cards…..you can too, plus Sonderman J Kukosky sez you can make 50K a year doing it…..free ham and turkey, our station is not connected to any statements not said to be true and possibly non-factual….BUT! There is MORE good news! Nancy Pelosi is coming by to demonstrate her latest collection of Ginzu knifes….none can cut, none can chop, but most importantly NONE can cross the aisle….free dentu-creme dispenser in every order…..

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  3. Don’t agonized over gift giving.

    Just relax people.

    If I give you underwear that has never been worn. In original packaging. Say thank you.

    I just don’t understand all of this angst.

    Totally unnecessary. Stupid, really.

    Just relax and enjoy the season.

    And give anonymously to someone in need. Then you’re done.

    Then go to your wine cave. Hahaha.

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  4. Always buy a gift that can be returned or exchanged at a cool store. I always use Macy’s for gifts, or give a Macy’s gift card.

    The idea being: if you pick something out, it at least shows you tried.

    Then again, if you are biden, pelosi, clinton, kerry or obama you give cash, because you stole the cash anyway from US taxpayers via Iran, Ukraine and Haiti.

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  5. I can assure you, as a child, NONE of us children, in my family, EVER contemplated dismay towards any gift we received….including socks, shirts, a book of life-savers and not even individually wrapped pieces of fruitcake.

    It was all well received and appreciated.

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  6. btw, another attempt to denigrate the tradition of giving gifts at Christmas

    I mean this within all the spirit of Christmas … you don’t like idea of Christmas? I get it. now please have a smidgen of curtesy for those that do … is that so hard? … or has your hatred overwhelmed any shred of decency left within you?

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  7. Who remembers the old Gahn Wilson Christmas comic, from probably 50 years ago or more, with neck ties laying all round and on the Christmas tree as the old man chases a family member across the room with the ends of a neck tie wrapped tightly in each hand, with the obvious intent to strangle them?
    Oh, I see, I guess you didn’t want another tie?

    [ I think Gahn Wilson was the previous generation’s version of Gary Larson & the Far Side]

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  8. I used to buy my late wife a couple of semi-expensive pieces of jewelry every Christmas.
    If she liked things, great.
    If not, she got to return them and buy whatever she wanted.
    She’d end up with what she wanted.
    And I got credit for trying to please her with something besides gift cards.
    (She didn’t know – that was my secret plan.)

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  9. Okay, so this year I am going all out to present some special people with expensive art that is both edible and also has reusable duct tape, all on a beautifully framed piece of drywall.

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  10. @jellybean
    Same for me, growing up, every single gift was appreciated.

    Nowadays I find myself struggling not to OVER give because I know what so many people like or need, but lack the funds. I really need to plan out my xmas shopping better. Lol.

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  11. Growing up on a (pretty well off) farm, I remember getting fruit, clothes, candy, and one major gift that was a toy when younger, and skis, toboggan, sled, etc. when older.
    It just boggles the mind to see the stuff that is bought for kids nowadays.
    I was in the check out at Walmart the other day and happened to get behind a lady that was Christmas shopping for her two kids.
    Over $800 worth of Chinese shit piled up in three carts.
    It almost looks like people are buying stuff because they’re feeling guilty about not being able to spend more time with their kids.

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  12. I too implemented the house rule of “must be of value (coins, etc) or consumable” some years back. So far nobody has bitched too much….. I even gift my Grandchildren gold coinage. Not fun to play with but will always have value.
    “The first stage in the corruption of morals is the banishment of truth …”
    Michel de Montaigne

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  13. Blink DECEMBER 21, 2019 AT 11:48 PM

    The one I recall was Santa’s stuck body blocking the chimney with the service guy saying something like “I think we’ve found the problem…”

    Died a month ago…

    G A H A N W I L S O N
    2/18/1930 – 11/21/2019

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  14. In the 30s it was Charles Addams.
    In the 60s it was Gahan Wilson.
    In the 90s it was Gary Larson.
    Ain’t we been blessed to be able to access all these wonderfully macabre artists?

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