31 sats \ 1 reply \ @nichro 28 Oct \ parent \ on: The Fiat Financialization of Everything: Starbucks? A bank. Delta airlines? Bank econ
It's always such a moment at office Xmas gift exchanges when people who barely know each other just trade 40$ gift cards around.
The net result: everyone just lost 40$ of cash in exchange for 40$ in spending restricted to one store
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0 sats \ 0 replies \ @Bell_curve 28 Oct
there are also Visa/Amex/etc gift cards that are not restricted to one store or brand
https://www.cnbc.com/2016/12/20/scroogenomics-why-you-should-scrap-the-presents-and-give-cash-at-christmas.html
Yet Joel Waldfogel, U.S. economist, University of Minnesota professor and author of the 2009 book, ‘Scroogenomics: Why you shouldn’t buy presents for the holidays’ has not wavered in his belief that the “orgy of wealth destruction” that takes place each Christmas needs to change.
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