Word: waldfogel
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...putting a lid on the $65 billion spent annually on holiday gifts, says Professor Joel Waldfogel of the Wharton School. Waldfogel, the author of Scroogenomics: Why You Shouldn't Buy Presents for the Holidays, insists his theory is solid economics, not bah, humbug. "As an institution for 'allocating resources' (getting stuff to the right people), holiday giving is a complete loser." If you spend $50 on yourself, he explains, you'll get something worth $50 to you. But if your Aunt Bernice buys you a $50 Christmas gift, she's likely to buy something that's worth nothing...
Starting to think about holiday gifts? Stop! Joel Waldfogel, author of Scroogenomics: Why You Shouldn't Buy Presents for the Holidays (Princeton), is convinced that giving Christmas and Hanukkah presents is bad economic policy. And as the chair of business and public policy at the University of Pennsylvania's Wharton School, he's no economic novice. TIME senior reporter Andrea Sachs, who is still hoping to get a few gifts this season (hint, hint), spoke with Waldfogel about his new book. (See pictures of retailers that have gone out of business...
Staying home can bring profound satisfactions, but it also carries substantial risks in an era when about half of marriages end in divorce and, according to Columbia University professor Jane Waldfogel, more than half of children in single-mother families live in poverty...
Cochran's six goals were closely matched by sophomore Holly Loring's four tallies. Sophomore Jane Waldfogel and freshman Ann Johnson completed Radcliffe's fusillade. Interestingly, all but Johnson attended Concord Academy, a local lacrosse power, before coming to Radcliffe...
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