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{{Short description|Economics book}}
{{Infobox book
{{Infobox book
| name = Scroogenomics: Why You Shouldn't Buy Presents for the Holidays
| name = Scroogenomics: Why You Shouldn't Buy Presents for the Holidays
| image =
| image = Scroogenomics.jpg
| author = Joel Waldfogel
| author = Joel Waldfogel
| country =
| country =
| language =
| language =
| genre = [[Nonfiction]]
| genre = [[Nonfiction]]
| publisher = [[Princeton University Press]]
| publisher = [[Princeton University Press]]
| release_date = 2009
| release_date = 2009
| media_type =
| media_type =
| pages = 173
| pages = 173
| isbn = 978-0-69-114264-7
| isbn = 978-0-69-114264-7
| dewey =
| dewey =
| congress =
| congress =
| oclc = 310171808}}
| oclc = 310171808}}


'''''Scroogenomics''''' is a non-fiction book written by the economist Joel Waldfogel.<ref>Waldfogel holds the Frederick R. Kappel Chair in Applied Economics at Carlson School of Management, University of Minnesota. [http://www.carlsonschool.umn.edu/faculty-research/jwaldfog/Joel_Waldfogel.aspx Carlson School: Faculty and Research]</ref>
'''''Scroogenomics''''' is a non-fiction book written by the economist [[Joel Waldfogel]].<ref>Waldfogel holds the Frederick R. Kappel Chair in Applied Economics at [[Carlson School of Management]], University of Minnesota. [http://www.carlsonschool.umn.edu/faculty-research/jwaldfog/Joel_Waldfogel.aspx Carlson School: Faculty and Research]</ref>


==Overview==
==Overview==
⚫
In his book Waldfogel argues that purchasing gifts for other people is a "terrible way to allocate resources" as a result of gift givers' lack of knowledge of the recipients' true preferences.<ref>{{cite web|last=Zasky|first=Jason|title=Scroogenomics|url=http://failuremag.com/feature/article/scroogeonomics/|work=Failure Magazine|accessdate=December 28, 2012}}</ref> Waldfogel estimates that approximately $12 billion a year in the U.S. and $25 billion a year worldwide is misallocated in [[Yuletide]] giftgiving, which he calls "an orgy of wealth destruction".<ref>{{cite news|title=Give gold, not myrrh|newspaper=[[The Economist]]|date=December 21, 2009|url=http://www.economist.com/node/15106467|accessdate=December 27, 2012}}</ref><ref>{{cite news|last=Hilsenrath|first=Jon|title=Q&A: Scroogenomics Author on the Holidays' 'Orgy of Wealth Destruction'|url=https://blogs.wsj.com/economics/2009/10/16/qa-scroogenomics-author-on-the-holidays-orgy-of-wealth-destruction/|accessdate=December 27, 2012|newspaper=[[The Wall Street Journal]]|date=October 16, 2009}}</ref><ref>{{cite news|last=Chakrabortty|first=Aditya|title=Brain food: the problem with Scroogenomics|url=https://www.theguardian.com/science/2009/dec/01/brain-food-problem-with-scroogenomics|accessdate=December 27, 2012|newspaper=[[The Guardian]]|date=November 30, 2009}}</ref>

⚫
In his book Waldfogel argues that purchasing gifts for other people is a "terrible way to allocate resources."<ref>{{cite web|last=Zasky|first=Jason|title=Scroogenomics|url=http://failuremag.com/feature/article/scroogeonomics/|work=Failure Magazine|accessdate=December 28, 2012|quote=A light bulb went on, and I thought, Wow, this could be a terrible way to allocate resources.}}</ref> When other people make choices for us there is often a [[deadweight loss]]. The deadweight loss is a result of gift givers' lack of knowledge of the recipients' true preferences. Waldfogel estimates that approximately $12 billion a year in the U.S. and $25 billion a year worldwide is lost in Yuletide giftgiving, which he calls "an orgy of wealth destruction".<ref>{{cite journal|title=Give gold, not myrrh|journal=[[The Economist]]|date=December 21, 2009|url=http://www.economist.com/node/15106467|accessdate=December 27, 2012}}</ref><ref>{{cite news|last=Hilsenrath|first=Jon|title=Q&A: Scroogenomics Author on the Holidays’ ‘Orgy of Wealth Destruction’|url=http://blogs.wsj.com/economics/2009/10/16/qa-scroogenomics-author-on-the-holidays-orgy-of-wealth-destruction/|accessdate=December 27, 2012|newspaper=[[The Wall Street Journal]]|date=October 16, 2009}}</ref><ref>{{cite news|last=Chakrabortty|first=Aditya|title=Brain food: the problem with Scroogenomics|url=http://www.guardian.co.uk/science/2009/dec/01/brain-food-problem-with-scroogenomics|accessdate=December 27, 2012|newspaper=[[The Guardian]]|date=November 30, 2009|quote=He describes Yuletide present-giving as 'an orgy of wealth destruction'.}}</ref>


==See also==
==See also==
Line 27: Line 27:


==External links==
==External links==
⚫
* Cowie, Ian – "[https://web.archive.org/web/20121214020614/http://blogs.telegraph.co.uk/finance/ianmcowie/100021767/scroogenomics-three-in-four-say-they-will-not-buy-christmas-presents-this-year/ ''Scroogenomics'': three in four say they will not buy Christmas presents this year"] ''The Telegraph''. 11 Dec 2012
⚫
*Sachs, Andrea - "[http://www.time.com/time/business/article/0,8599,1938367,00.html Why We Shouldn't Give Christmas Gifts"] ''Time Magazine''. 12 Nov 2009
*Muir, David - "[http://abcnews.go.com/Business/scroogenomics-loved-love-christmas-gifts/story?id=9321824#.UNqyM-Qnu6s ''Scroogenomics'': Your Loved Ones May Not Love Their Christmas Gifts"] ABC News. 12 Dec 2009
* Langer, Ellen – "[http://www.huffingtonpost.com/ellen-langer/emscroogenomicsem-are-the_b_403985.html ''Scroogenomics'': Are the Grinches Wrong?"] ''The Huffington Post''. 28 Dec 2009
*Langer, Ellen - "[http://www.huffingtonpost.com/ellen-langer/emscroogenomicsem-are-the_b_403985.html ''Scroogenomics'': Are the Grinches Wrong?"] ''The Huffington Post''. 28 Dec 2009
* Muir, David – "[https://abcnews.go.com/Business/scroogenomics-loved-love-christmas-gifts/story?id=9321824#.UNqyM-Qnu6s ''Scroogenomics'': Your Loved Ones May Not Love Their Christmas Gifts"] ABC News. 12 Dec 2009
⚫
* Sachs, Andrea – "[https://web.archive.org/web/20091115072314/http://www.time.com/time/business/article/0,8599,1938367,00.html Why We Shouldn't Give Christmas Gifts"] ''Time Magazine''. 12 Nov 2009
⚫
*Cowie, Ian - "[http://blogs.telegraph.co.uk/finance/ianmcowie/100021767/scroogenomics-three-in-four-say-they-will-not-buy-christmas-presents-this-year/ ''Scroogenomics'': three in four say they will not buy Christmas presents this year"] ''The Telegraph''. 11 Dec 2012
*Will, George - "[http://www.washingtonpost.com/wp-dyn/content/article/2009/11/25/AR2009112502653.html George F. Will on the disaster of Christmas giving"] ''The Washington Post''. 26 Nov 2009
* Will, George – "[https://www.washingtonpost.com/wp-dyn/content/article/2009/11/25/AR2009112502653.html George F. Will on the disaster of Christmas giving"] ''The Washington Post''. 26 Nov 2009
* {{cite web|last=Will|first=George|title=Scroogenomics|url=http://www.realclearpolitics.com/articles/2009/11/26/scroogenomics_99316.html|work=[[RealClearPolitics]]|publisher=RealClear Holdings|authorlink=George Will|date=November 26, 2009}}


[[Category:Economics books]]
[[Category:Economics books]]
[[Category:Princeton University Press books]]


{{econ-book-stub}}

Latest revision as of 04:02, 10 August 2024

Scroogenomics: Why You Shouldn't Buy Presents for the Holidays
AuthorJoel Waldfogel
GenreNonfiction
PublisherPrinceton University Press
Publication date
2009
Pages173
ISBN978-0-69-114264-7
OCLC310171808

Scroogenomics is a non-fiction book written by the economist Joel Waldfogel.[1]

Overview

[edit]

In his book Waldfogel argues that purchasing gifts for other people is a "terrible way to allocate resources" as a result of gift givers' lack of knowledge of the recipients' true preferences.[2] Waldfogel estimates that approximately $12 billion a year in the U.S. and $25 billion a year worldwide is misallocated in Yuletide giftgiving, which he calls "an orgy of wealth destruction".[3][4][5]

See also

[edit]

References

[edit]
  1. ^ Waldfogel holds the Frederick R. Kappel Chair in Applied Economics at Carlson School of Management, University of Minnesota. Carlson School: Faculty and Research
  2. ^ Zasky, Jason. "Scroogenomics". Failure Magazine. Retrieved December 28, 2012.
  3. ^ "Give gold, not myrrh". The Economist. December 21, 2009. Retrieved December 27, 2012.
  4. ^ Hilsenrath, Jon (October 16, 2009). "Q&A: Scroogenomics Author on the Holidays' 'Orgy of Wealth Destruction'". The Wall Street Journal. Retrieved December 27, 2012.
  5. ^ Chakrabortty, Aditya (November 30, 2009). "Brain food: the problem with Scroogenomics". The Guardian. Retrieved December 27, 2012.
[edit]


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