Christmas is a great hook to think about economic concepts. For students, the urgency of course requirements lessons and it’s permissible to deepen your interests. For interested laypeople, time to read allows you to broaden your horizons. Perhaps you received a “pop economics” book as a present, or – like me – you look forward every year to The Economist’s Christmas Special. I wanted to share some of my favourite resources.
- Firstly, Tyler Cowen and Alex Tabarrok have this lovely video:
- The classic application of economics analysis to Christmas is The Deadweight Loss of Christmas
- For a fascinating account of what frankincense and myrrh are, and their role in the evolution of global trade, see Bernstein, W. (2008) “A Splendid Exchange” – pp. 58-67
- Finally, don’t forget to do some charity work:
- Christians should not celebrate festivals in a state of drunkenness and gluttony, or by dancing or merrymaking, but by tending to orphans and paupers, and by helping and giving to the poor and infirm… Woe betide those who have not observed the wisdom of the scriptures and who have idled, danced and indulged in wine”
- Cyril of Turov (see Bazan, L., 2014, A History of Belarus, Glagoslav Publications, p.64)