What We Need To Know About Gift Giving
In The Big Bang Theory, Sheldon was thrilled with the gift he received: By contrast, according to University of Minnesota Professor Joel Waldfogel, we don’t want many of the holiday gifts our friends and relatives give us. The result (he says with a bit of smile) is an “orgy of value destruction.” When you dislike (and never wear) the $35 scarf Aunt Betty gave you, its worth sinks to $10. Consequently, the economy lost $25 from an unwelcome gift. Following Dr. Waldfogel’s thinking, a per person gift giving projection for 2024 from Gallup of $1,014 is really less ….[READ]
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