Current:Home > ScamsIn defense of gift giving-Angel Dreamer Wealth Society D1 Reviews & Insights
In defense of gift giving
View Date:2024-12-23 22:34:21
There's a famous idea in economics that shopping for holiday gifts is a waste of time and money — an "orgy of wealth destruction," as the economist Joel Waldfogel once put it. Economic logic says that instead of giving someone a present, you should just give them cash so they can buy themselves what they really want. Last year at Planet Money, we tried to spread that message by commissioning an original song called "Cash is King."
But Planet Money host Jeff Guo believes in the economic virtues of gift giving. On today's show, Jeff tries to win over Planet Money's resident Scrooge, Kenny Malone, by going on a quest to find him the perfect gift. Along the way, they're visited by the spirits of three Nobel prize-winning economic theories that can explain why gift-giving is actually good. And by the end, Kenny's heart may just grow three sizes larger.
Today's show was produced by Willa Rubin, with help from Sam Yellowhorse Kesler and James Sneed. It was edited by Jess Jiang, engineered by Robert Rodriguez, and fact-checked by Sierra Juarez.
Music: "Toy Ballet," "Quirky Christmas," "We Wish You A Merry Christmas" and "Playful Enchantment."
Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.
Always free at these links: Apple Podcasts, Spotify, Google Podcasts, NPR One or anywhere you get podcasts.
Find more Planet Money: Twitter / Facebook / Instagram / TikTok / our weekly Newsletter.
veryGood! (4838)
Related
- California teen pleads guilty in Florida to making hundreds of ‘swatting’ calls across the US
- 'Trail of the Lost' is a gripping tale of hikers missing on the Pacific Coast Trail
- Jennifer Lopez Debuts Blonde Highlights in Must-See Transformation
- 'Hawaii is one family': Maui wildfire tragedy ripples across islands
- Wheel of Fortune Contestant Goes Viral Over His Hilariously Wrong Answer
- Fantasy football: Tua Tagovailoa, Calvin Ridley among riskiest picks in 2023 drafts
- Grand jury declines to indict officer in fatal Kentucky police shooting of armed Black man
- TikToker Alix Earle Addresses Nose Job Speculation
- Lee Zeldin, Trump’s EPA Pick, Brings a Moderate Face to a Radical Game Plan
- Takeaways from first GOP debate, Prigozhin presumed dead after plane crash: 5 Things podcast
Ranking
- Taylor Swift drops Christmas merchandise collection, including for 'Tortured Poets' era
- Black elementary school students singled out for assemblies about improving low test scores
- Schutz Seasonal Sale: Save Up to 60% On Ankle Boots, Lace-Up Boots & More Fall Must-Haves
- Starbucks’ Pumpkin Spice Latte turns 20: The famous fall beverage that almost wasn't
- Mike Tyson-Jake Paul: How to watch the fight, time, odds
- Transgender adults are worried about finding welcoming spaces to live in their later years
- Bryan Kohberger's trial is postponed after Idaho student stabbings suspect waives right to speedy trial
- USA Gymnastics doesn't know who called Simone Biles a 'gold-medal token.' That's unacceptable.
Recommendation
-
All the Ways Megan Fox Hinted at Her Pregnancy With Machine Gun Kelly
-
Gov. Ron DeSantis' education overhaul continues with bathroom rule at Florida state colleges
-
Russia's General Armageddon reportedly dismissed after vanishing in wake of Wagner uprising
-
Chickens, goats and geese, oh my! Why homesteading might be the life for you
-
Infowars auction could determine whether Alex Jones is kicked off its platforms
-
This summer has been a scorcher. DHS wants communities to plan for more of them
-
New York governor urges Biden to help state with migrant surge
-
Climate change made it in the GOP debate. Some young Republicans say that's a win