In defense of gift giving

Cold economic reasoning says, supposedly, that <a href="https://www.amherst.edu/media/view/104699/original/christmas.pdf">gifts are inefficient transfers of wealth</a>. But Planet Money host Jeff Guo believes in the economic virtues of gift giving. On today's show, Jeff tries to win over Planet Money's resident Scrooge, Kenny Malone, by going on a quest to find him the perfect gift. Along the way, they're visited by the spirits of three Nobel prize-winning economic theories that can explain why gift-giving is actually good. And by the end, Kenny's heart <em>may just</em> grow three sizes larger. Subscribe to Planet Money+ in <a href="https://podcasts.apple.com/podcast/290783428">Apple Podcasts</a> or at <a href="http://plus.npr.org/planetmoney">plus.npr.org/planetmoney</a>