Economics of sucky Christmas gifts....

My great aunt Alice always gave my sisters and I awful brown polyester socks for Christmas every year that I can recall. I would thank her for her thoughtfulness and stuff them into a box in my closet where they would be joined by another pair the next year. I was relived when she finally stopped giving gifts and have never worked up the nerve to ask her why she seemed to have a particular fondness for brown polyester footwear. Some mysteries are best left alone I suppose.

One economist puts this well meaning but ultimately unappreciated gift giving into a whole new perspective as the deadweight loss of christmas. Now you can be a grinch and be an economic hero since you aren't wasting valuable resources or sending people to the day after christmas returns line. Forget the brown socks and send a card instead next year :)