Money Talks: Is Christmas becoming more efficient?
Money Talks from The Economist
The Economist
4.4 • 1.2K Ratings
🗓️ 21 December 2022
⏱️ 42 minutes
🧾️ Download transcript
Summary
Economists are a gloomy lot, and no less so at Christmas. Whereas most people see gift-giving as a source of joy, economists fret about the potential for misallocated resources. One Scrooge-ish study found that, on average, $100 spent on gifts was worth the same as around $85 of cash spent directly by the recipient. But are there reasons to believe that over time, Christmas is becoming more efficient?
On this week’s podcast, hosts Soumaya Keynes, Mike Bird and Alice Fulwood hear from the father of Scroogenomics, Joel Waldfogel, about why Christmas may be improving for economists—even if it means fewer presents. And they speak to The Economist’s Ore Ogunbiyi about the nightmare after Christmas for retailers.
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Transcript
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| 0:00.0 | When you own a small business, busy is music to your ears. |
| 0:06.0 | Busy means you're hopefully driving lots of, but what if with every American Express was busy too? |
| 0:12.0 | Helping you promote your business or bringing in new customers who spend a little more? |
| 0:16.0 | What if they also gave your customers rewards when they spend with you? |
| 0:20.0 | Yep, you'd get even more... |
| 0:22.0 | Busy is good for business. We'll be with you on that. |
| 0:26.0 | Such accept amics today. |
| 0:28.0 | Enrollment acquired 18-plus season C's apply. |
| 0:34.0 | Money talks from the economist is sponsored by Invest Puerto Rico. |
| 0:38.0 | More than just a Caribbean paradise, Puerto Rico is a business powerhouse. |
| 0:43.0 | This U.S. territory is a fast-growing hub for innovators. |
| 0:47.0 | Puerto Rico boasts numerous tax credits, business incentives, |
| 0:51.0 | and world-class talent that take your business to the next level. |
| 0:55.0 | Find out why at investpr.org. Game changers, welcome home. |
| 1:16.0 | Christmas. |
| 1:17.0 | Does the season to be jolly, sink harralls and eat far too much? |
| 1:21.0 | And also, the season to spend. |
| 1:26.0 | Retailers can spend months preparing for their seasonal splurge |
| 1:31.0 | when consumers loosen their belts and open their wallets. |
| 1:35.0 | In the final three months of the year, the British toy industry makes as much as half of its sales. |
| 1:48.0 | Think of all the effort that goes into the logistics of Christmas. |
| 1:52.0 | All the elves who have to be hired on temporary contracts, then trained up, |
... |
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