49:03 minutes (23.55 MB)
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Economist Joel Waldfogel says that we're about to be hit by a tornado, a red tornado. But we shouldn't be caught unaware, because this cyclone hits every year, and he's got a name: Santa. Waldfogel says the business of Christmas actually destroys value, taking millions of consumer dollars annually and turning them into dissatisfaction. Coming up, Where We Live, we’ll talk with Waldfogel about his new book, Scroogenomics: Why You Shouldn’t Buy Presents for the Holidays. We’ll talk about the culture of holiday waste, how modern holidays compare to the holidays of yesteryear, and how credit has changed the holiday game forever.
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