Published Tuesday, December 25, 2007 by Art Carden
Christmas is a make-or-break time for many retailers, and the holiday season's importance to the American economy is so great that "Black Friday" sales at some retailers, particularly Wal-Mart, are reported as a macroeconomic indicator. The holiday season is indeed festive and inspiring even in spite of clichd paeans against the "commercialism" of Christmas. But, asks Art Carden, does the Christmastime "bacchanalia of peace on Earth and goodwill towards men" promote economic growth or not?
(Original Text)
Christmas and Consumption (1.31 MB)