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Is Christmas Inefficient?

Authored by Jeffrey Tucker via The Mises Institute, After hundreds of years of attacks on Christmas, economists have finally gotten into the act. Yale University’s Joel Waldfogel, writing in the American Economic Review, condemns what he calls “The Deadweight Loss of Christmas.” Once you cut through the calculus and graphs, his conclusion is clear: though Christmas […]


Durable Goods Orders Stumble In November – Business Spending Drops Most Since 2016

Headline durable goods orders rose 1.3% in November (prelim), missing expectations of a 2.0% rise, but core durable goods fell in the preliminary November print – the worst drop since April. Perhaps even more concerning is the 0.1% drop in capital goods new orders ex-aircraft and parts – i.e. business spending – this is the […]