As Churchill put it, "economists seldom have a quarrel, not even on a subject like Christmas."
If you put two economists in the same room, you get two opinions.But if one of them happens to be a Keynesian, congratulations, there's a third voice.
Keynesians: Christmas, macroeconomic stability too!
They decide how many christmases to celebrate based on the year.Paul Krugman's article on the great depression, "hope every day is Christmas," is the best example.In this article, he also revealed his little taste for English gorgeous rock.Keynesians have long suspected that the state does not do enough, so even Santa Claus wants to be "government-sponsored".
Austrian school of economics: Christmas, old danger!
They say after the feast, tears.After a Christmas spending spree, the economy tends to die in January.Does gift-giving create moral hazard?Are you spending too much on Christmas decorations?
They are really worried about these problems.The Austrian school of economics would have been as liberal as ever in its opposition to Christmas as a "public" holiday for the whole world.Sticking to the free market will lead to good results, but Christmas is also a kind of freedom!
Monetarist: what Christmas is, only I know.
Their way of thinking is reduced to a single identity.This identity is easily skewed by Santa's velocity.Diehard monetarists believe that if only the release of "chocolate" were controlled, there
would be no "waistline" hyperinflation or hyperactivity among young children.
Chicago school: gifts are meaningless