{"id":4765,"date":"2019-12-21T19:12:42","date_gmt":"2019-12-22T02:12:42","guid":{"rendered":"http:\/\/blogs.pugetsound.edu\/econ\/?p=4765"},"modified":"2019-12-21T19:12:42","modified_gmt":"2019-12-22T02:12:42","slug":"dec-the-halls-with-dead-weight-loss-an-economists-christmas-story","status":"publish","type":"post","link":"https:\/\/blogs.pugetsound.edu\/econ\/2019\/12\/21\/dec-the-halls-with-dead-weight-loss-an-economists-christmas-story\/","title":{"rendered":"Dec the Halls With Dead Weight Loss: An Economist’s Christmas Story"},"content":{"rendered":"

‘Twas the night before Christmas and all through the house,<\/span><\/p>\n

Not a creature was stirring, not even a mouse<\/span><\/p>\n

Children asleep lying under their covers<\/span><\/p>\n

Hoping for money from their rich grandmothers.<\/span><\/p>\n

 <\/p>\n

As good economists they know the costs<\/span><\/p>\n

That presents only bring deadweight loss.<\/span><\/p>\n

 <\/p>\n

Alas when they woke, they found under the tree<\/span><\/p>\n

Something that noone should ever see.<\/span><\/p>\n

Gift boxes wrapped up with ribbon and bow<\/span><\/p>\n

The little economists thought no, no, no, no.<\/span><\/p>\n

 <\/p>\n

This will never do, the little economist said in his head<\/span><\/p>\n

While holding the sweater with too itchy of thread.<\/span><\/p>\n

Smiling and trying to be discreet,<\/span><\/p>\n

While frantically looking for a gift receipt.<\/span><\/p>\n

 <\/p>\n

The loss of value in gift giving is no laughing matter,<\/span><\/p>\n

So next time there arise such a clatter.<\/span><\/p>\n

Simply remember this economist\u2019s tale<\/span><\/p>\n

That christmas gifts are bound to fail.\u00a0<\/span><\/p>\n

 <\/p>\n

for more reading on why gift giving causes deadweight loss:\u00a0christmas-gift-giving-wasteful<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

‘Twas the night before Christmas and all through the house, Not a creature was stirring, not even a mouse Children asleep lying under their covers Hoping for money from their rich grandmothers.   As good economists they know the costs That presents only bring deadweight loss.   Alas when they woke, they found under the tree Something that noone should ever see. Gift boxes wrapped up with ribbon and bow The little economists thought no, no, no, no.   This will never do, the little economist said in his head While holding the sweater with too itchy of thread. Smiling Continue reading Dec the Halls With Dead Weight Loss: An Economist’s Christmas Story<\/span>→<\/span><\/a><\/p>\n","protected":false},"author":601,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-4765","post","type-post","status-publish","format-standard","hentry","category-economics"],"_links":{"self":[{"href":"https:\/\/blogs.pugetsound.edu\/econ\/wp-json\/wp\/v2\/posts\/4765","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.pugetsound.edu\/econ\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.pugetsound.edu\/econ\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.pugetsound.edu\/econ\/wp-json\/wp\/v2\/users\/601"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.pugetsound.edu\/econ\/wp-json\/wp\/v2\/comments?post=4765"}],"version-history":[{"count":3,"href":"https:\/\/blogs.pugetsound.edu\/econ\/wp-json\/wp\/v2\/posts\/4765\/revisions"}],"predecessor-version":[{"id":4794,"href":"https:\/\/blogs.pugetsound.edu\/econ\/wp-json\/wp\/v2\/posts\/4765\/revisions\/4794"}],"wp:attachment":[{"href":"https:\/\/blogs.pugetsound.edu\/econ\/wp-json\/wp\/v2\/media?parent=4765"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.pugetsound.edu\/econ\/wp-json\/wp\/v2\/categories?post=4765"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.pugetsound.edu\/econ\/wp-json\/wp\/v2\/tags?post=4765"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}