Current:Home > StocksIn defense of gift giving -EliteFunds
In defense of gift giving
View
Date:2025-04-14 06:34:55
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! (72)
Related
- Romantasy reigns on spicy BookTok: Recommendations from the internet’s favorite genre
- Biden Climate Plan Looks For Buy-in From Farmers Who Are Often Skeptical About Global Warming
- Read full text of the Supreme Court affirmative action decision and ruling in high-stakes case
- Utility Giant FirstEnergy Calls for Emergency Subsidy, Says It Can’t Compete
- Mets have visions of grandeur, and a dynasty, with Juan Soto as major catalyst
- The US Rejoins the Paris Agreement, but Rebuilding Credibility on Climate Action Will Take Time
- Jonah Hill and Olivia Millar Step Out After Welcoming First Baby
- Is Cheryl Burke Dating After Matthew Lawrence Divorce? She Says…
- Justice Department, Louisville reach deal after probe prompted by Breonna Taylor killing
- Kathy Hilton Confirms Whether or Not She's Returning to The Real Housewives of Beverly Hills
Ranking
- US wholesale inflation accelerated in November in sign that some price pressures remain elevated
- Supreme Court blocks student loan forgiveness plan, dealing blow to Biden
- 10 Brands That Support LGBTQIA+ Efforts Now & Always: Savage X Fenty, Abercrombie, TomboyX & More
- Carbon Markets Pay Off for These States as New Businesses, Jobs Spring Up
- Grammy nominee Teddy Swims on love, growth and embracing change
- What are red flag laws — and do they work in preventing gun violence?
- Princess Eugenie Gives Birth, Welcomes Baby No. 2 With Husband Jack Brooksbank
- Read full text of the Supreme Court affirmative action decision and ruling in high-stakes case
Recommendation
House passes bill to add 66 new federal judgeships, but prospects murky after Biden veto threat
House Votes to Block Trump from Using Clean Energy Funds to Back Fossil Fuels Project
Why Tom Brady Says It’s Challenging For His Kids to Play Sports
Bling Empire's Anna Shay Dead at 62 After Stroke
Appeals court scraps Nasdaq boardroom diversity rules in latest DEI setback
Bling Empire's Anna Shay Dead at 62 After Stroke
Wage theft often goes unpunished despite state systems meant to combat it
RHOC's Shannon Beador Reveals the Real Reason for Her and Tamra Judge's Falling Out
Like
- Trump suggestion that Egypt, Jordan absorb Palestinians from Gaza draws rejections, confusion
- Kim Cattrall Talked About Moving On Before Confirming She'll Appear on And Just Like That...
- Does aspartame have health risks? Here's what studies have found about the sweetener as WHO raises safety questions.