Rosedale Macy's will offer round-the-clock shopping in days before Christmas

Last-minute shoppers take note. You'll be able to grab gifts at Macy's in Rosedale, any time of the day or night, from Dec. 21 until 6 p.m. Christmas Eve.
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Last-minute shoppers take note. You'll be able to grab gifts at Macy's in Rosedale, any time of the day or night, from Dec. 21 until 6 p.m. Christmas Eve.

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Prof. Scrooge from the U of M: Christmas gifts are stupid, cause global wealth destruction

Joel Waldfogel, an economist at the University of Minnesota, studies gift-giving and says most recipients value gifts about 20 percent less than they cost the giver. Worldwide, that amounts to tens of billions of dollars down the drain every year. The problem in a nutshell is that while we can all shop efficiently for ourselves, most of us just stink at finding good gifts. Waldfogel says if Christmas were a government program, we'd classify the whole thing as a gigantic waste.