Christmas Spending

Contributes to the obesity epidemic for sure.

There is a difference between saying the holiday season confers net social benefits and that all the spending does.

Don't be an econo/supervillain

who could be against the holiday season?........perhaps only the grinch!

Definitely for gifts. Doing a lot shopping at the same time is efficient. But congestion is a problem for travel and parties.

There seems to be a social need for public celebrations and gifts. But some are forced to participate.The net benefit is unclear.

The holidays may make us more altruistic, mindful of social good. I believe this, actually, but gifts/travel/spending do not seem essential

Signaling effects, each trying to be the best giver, create waste. Most actions are freely chosen. Net effect is likely positive.

No obvious failures of the welfare theorems, people have leisure complementarities and some prices are actually lower for shoppers
-see background information here

By revealed preference, not for Keynesian reasons.

It would be Scrooge-like to suggest otherwise.

Despite curmudgeonly economics articles, the revealed preference is that people derive gains from these activities.

Compared to no concentration? Externalities of both signs; who knows the net?

Don't let an overly narrow view of benefits and costs ruin your holiday cheer.

There is social value to coordinating activities where there are complementarities. Arguably this is one of them.

Lots of gain from coordinated consumption... but with a great deal of inequality in the distribution of benefits