Written by: Gopal Sreedharan
“It’s the most wonderful time of the year.” Christmas is around the corner: the biggest time of the year for economies. Families fly all over to see each other and buy presents. In 2013 the United States retail industry made over three trillion dollars during the holidays. Those sales were 19.2 percent of the retail industry's total sales that year. Due to the immense rush during holidays, just over 768 thousand employees for hired during time to compensate for the rush.
Other than money for the retailers, gift giving is also great, because it shows care and love for all of your friends and family. There’s just one problem with the process of gift giving. The deadweight loss aspect of it.
There’s no problem with giving present when the recipient loves and uses the gift fully, however this does not happen a lot of the time. The gifts are a loss to the giver and not necessarily a gain for the recipient. That’s the deadweight loss of it.
There are multiple solutions to this problem though. You can still get special gifts for your family and close friends because you know them well enough to get a gift that’s useful for them. For friends that are not as close, there are gifts that never go wrong. Everyone likes money, so you can just gift them money. Some people do view money as a lazy gift in bad nature, so another solution is a gift card. It’s a sleek way of gifting money. If you want to show your love this Christmas, and you don’t know what to get, go with money or giftcards. It never fails and is a win for everyone.
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"Meaning of Dream «Gift»." The Meaning of the Dream in Which You Saw «Gift». N.p., n.d. Web. 13 Dec. 2016.