Posted at 12:46 PM on December 17, 2009
by Sanden Totten
Joel Waldfogel must like ruffling feathers . . . either that or he just has a burning passion for getting to the bottom of things. Either way, his new book Scroogenomics is bound to stir up some debate. In it, he takes a sacred Christmas tradition and tears it to shreds.
His basic premise is that gift giving is bad. Bad for the giver, bad for the receiver. At least that's what he found after analyzing how much we spend on gifts compared to how satisfied we are with the gifts we get. In The Loop decided to bring Waldfogel on the show to learn more about why gift giving is so lousy . . . economically speaking.