How to pronounce“waldfogel”in English
IPA/wældfɒdʒɛl/
Syllableswal·dfo·gel
Live Synchronized Subtitle
3:44
by giving her one for Christmas. Some economists love price signals so much that they argue against the tradition of giving gifts. This argument was popularized by economist Joel
Waldfogel who argued that gift giving is inefficient. From a macroeconomic point of view, holiday shopping boosts consumer spending, GDP, and employment. But, if too many people are purchasing
items that the end consumers don't value, then resources are being wasted.
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