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In Economists We Trust

Posted: 04/21/2012 5:21 pm Updated: 04/21/2012 5:52 pm

Market Society Economists

Wall Street Journal:

Economists don't really like presents. They think they are irrational. No gift giver can know what another person wants most, and any present is just a wasteful approximation. The only gift anyone should ever give is cash. It is optimally efficient.

Read the whole story at Wall Street Journal

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Filed by Benjamin Hart  |