December 26, 2014 in Daily Bulletin
No need for any post-holiday blues, writes Matthew Yglesias. The most patriotic thing you could do as a global citizen would be to start planning for another Christmas celebration:
- Statisticians don’t usually talk about it because they like to “seasonally adjust” their numbers, but up to 3 million Americans have jobs due to the Christmas season – and are fired soon afterwards.
- It’s not just the demand created by presents. There’s also a surge in travel and food spending that props up the economy.
- Having a second Christmas sometime in the spring would give the economy a lasting boost, and perhaps make some of the “seasonal” workers permanent ones.
- For the economy as a whole this would be affordable. Yes, you’d have to spend more on presents, but all the extra demand would ultimately raise everybody’s wages.
Read the rest of the argument, why Yglesias is serious, and more over here.
Via: Marginal Revolution