Economy Dec 24

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Bah Humbug: The Case Against Holiday Presents

In his new book, "Scroogenomics: Why You Shouldn't Buy Presents for the Holidays," economist Joel Waldfogel argues that giving unwanted presents is not just bad for those who receive them, it's bad for the economy as well.

Sales at U.S. retailers sank in July for the first time in three months despite the government's popular 'cash for clunkers' incentive program, indicating that the American economy faces a bumpy recovery from its worst recession since World War II.