Today’s Washington Times contains my review of Joel Waldfogel’s book Scroogenomics: Why You shouldn’t Buy Presents for the Holidays.
Here’s a taste:
“‘A cribbage board? You shouldn’t have,’ we tell our mothers-in-law. Indeed.” In those three short sentences, Joel Waldfogel describes the origin of what retailers call “return season” and what consumers call “the week after Christmas.”
Mr. Waldfogel has a point here. By his calculations, such gifts cost the U.S. economy about $85 billion in waste. That’s more than 124 countries’ entire gross domestic product, by the way.