America Saves is launching the first in a series of four conversations with economists Aaron Klein, fellow in economic studies and policy director of the Initiative on Business and Public Policy at the Brookings Institution, and Mark Calabria, director of financial regulation studies at the Cato Institute, on large economic questions and how they impact the financial well-being of individual households. In the first video of the series, which we're calling America Saves Conversation with the Economists, we asked about the role of holiday spending in the nation’s economy.
As Mark explains, the average annual change in economic activity from the holiday season to January is bigger than the typical post-war recession. The 30-minute conversation covers this annual holiday boom and bust, the mismatch between our earnings and savings, the redistribution of wealth among family members, economists’ "unsentimental" view on gift cards, paradoxes and mysteries of behavioral economics, the value of time, how we can get through the holidays without busting our budget, and much more.
Join Mark, Aaron, and America Saves for a 45-minute power chat on holiday spending and financial habits. Or share your thoughts at any time using the hashtag #HolidaySavings.
Topic: Holiday Habits: Spending Less and Saving More