The economics of Christmas, a holiday satire
The dirty secret of North Pole's success
By Steve Sailer, isteve.blogspot.com
There appears to be a silent rule among pundits—all of whom secretly read me—that we not mention immigration and the North Pole in the same sentence. The truth is that the success of Santa's operation up there demonstrates that the accepted orthodoxy on immigration is 100 percent wrong. For as long as anyone can remember, there's been zero immigration to the North Pole—yet the economy thrives, the elves have a thriving culture and there is very little social strife. All that is supposed to be impossible in a monoculture.
But, of course, you're not supposed to notice these hate-facts.
Open Borders: Why should they stop at Christmas?
By Tyler Cowen, Marginal Revolution
Every year the American government briefly relaxes its stranglehold on our borders to permit the entrance of Santa Claus and his team of reindeer. If this is a good thing on Christmas, imagine how much better it would be if we made this our year round policy? Have you ever eaten in an Elven restaurant? The candy canes are sublime.
While there are some who think that competition with elf workers would impoverish American workers, there is not a lot of evidence to support this. In fact, the toy making of the elves would likely be complimentary to native production. What's more, the wealth generated by elven labor would add to economic growth.
Nominal Christmas Present Targeting
By Scott Sumner, TheMoneyIllusion.com
If the Fed would simply announce a nominal target for presents, we'd all receive more presents on Christmas day. There are many ways to do NCPT but I prefer that the Fed create a presents futures market.
A lot of people look at the amount of presents under the tree and attempt to derive the stance of Santa. But this is wrong. You need to examine the demand for presents as well as the supply. In general, a large pile of presents is a sign that Christmas policy has been too tight, while coal in the stocking is a sign that it has been too loose.
P.S. As Mark Sadowksi points out in comments, naughty boys and girls would get hot potatoes rather than coal.
P.P.S Nick Rowe responds. Obviously I agree but I want to make something clear...
The Candy Cane Racket
By Tim Carney, Washington Examiner
When you wake up on Christmas morning, you may notice that your stockings have been stuffed with candy canes, among other things. Why don't we have candy canes all year round? The answer is that candy canes are very expensive to manufacture thanks to the taxes placed on striped candies.
Of course, candy canes imported from just one area are exempt from the tax. Yep. You guessed it: the North Pole. As it turns out, Santa's little lobbyists had a hand in writing the Domestic Candy Protection Act of 2010. And the former chief staffer for the Senate Subcommittee on Curved Candy now works for the lobbying firm employed by Santa.
There is no long term Christmas problem
By Stephanie Kelton and Warren Mosler, New Economics Perspectives
Each year Santa runs an enormous Christmas present deficit, prompting worries that Santa is bankrupting the North Pole. This is exactly backward. Santa must run a deficit if the rest of the world is going to run a present surplus. If not for Santa's deficit, household net present assets would have to fall. Every person's gift is another person's spending.
As a sovereign issuer of presents, Santa Claus faces no short or long term constraint on his ability to give gifts. There are children and grandchildren, involved, of course.