Economy Sep 10

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Why we crave what’s cool

What does it mean to be cool? It's a means of standing out, as well as a way of fitting in. In studying the brain, economists have found that when we consume products from status brands, it actually gives us…

Economy Sep 09

Why buying things makes you happy

From pop songs to Pope Francis, consumerism is often denounced as a poison that thwarts genuine happiness, hampers political participation and erodes social connections. But is it really that bad?…

Those gifts you opened this morning -- they're worth less to you than the gift-giver paid for them, no doubt. That's the deadweight loss of Christmas for you. But plenty of economists are saying "bah, humbug" to economic rationality and…

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