Foolish gifts

For gifts to have meaning they must matter to both giver and receiver

My last column was on gift-giving, and I cannot refrain from writing another on the same subject. A recent “Reading File” in the New York Times (Jan. 4) contains a provocation I cannot resist. Ross Gittins, a writer at the Sydney Morning Herald, explains why economists regard gift-giving as foolish. Here is an excerpt:

 

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