Word: gifting
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...parents to children, grandparents to grandchildren, aunts and uncles to nieces and nephews. It's O.K. for cash to flow from those of higher social status to those of lower social status, but [otherwise] it's just considered a tacky thing to do. Which makes the growth of gift certificates remarkable, because they're not tacky at all. I mean, recipients rate them as their most desired gift. In some sense, it's a way for givers to give a gift that has the flexibility of cash, without the tackiness of cash...
...What if you don't give them holiday gifts? Well, I do give them holiday gifts, because they are people whose preferences I know a lot about. The problem arises in the situations where we have to give a gift, but we have no idea what the recipient wants. I'm not against giving gifts in the situations where we have a good idea what people want...
...What about the person who says, "My in-laws would go insane if I didn't get them gifts"? Yes, that's the problem. So what do you do? There are a few possible answers. One answer is gift certificates or gift cards. Another solution that we see increasingly and that I advocate is giving gifts to charity. If you look at data, as people get richer, they give a higher fraction of their income to charity. So if you think that luxuries in that sense are things people would like to do, if only they had more money, then...
...Juanita, Kham, Libardo, Justin, Russell, Michael. A young President baptized a new Greatest Generation: "We need not look to the past for greatness," he said, "because it is before our very eyes." Our security is their life's work, he said, and peace is their legacy, and freedom their gift. To the great gray sea of soldiers that stood before him, the deaths were a hard reminder of the challenge of protecting all three at the same time...
...have children is amazing. I got one letter from a husband and wife who said when they get home and they've had a bad day, they pop in the Best of Elmo video. The guy sent me the cover to sign, to give as a 10th anniversary gift to his wife. I hope that's not the only thing he was giving. But it was really sweet...