January 31, 2007
Is there dead weight loss from Valentine's Day?

Unlike the spending at Christmas, Valentine's Day spending might be more akin to an insurance payment. My Financial Adviser long ago suggested that we table V-day spending - whew! The National Retail Federation anticipates the average expenditure to be a bit more than $110!

More here

Posted by Craig Depken at 10:39 AM in Economics

The statesman who should attempt to direct private people in what manner they ought to employ their capitals would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it. -Adam Smith

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