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Shoot! I had tickets for Madam Butterfly for tonight!...
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Special selection of Holidays
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| Christmas machine |
| Description: |
Christmas is typically the largest annual stimulus for the economies of celebrating nations. Sales increase in almost all retail areas and shops introduce new products, as people purchase gifts, decorations, and supplies. In the United States, the Christmas shopping season now begins on Black Friday, the day after Thanksgiving. Christmas Day is the only day in the year that most shops and businesses are closed. The economic impact continues after the holiday, with Christmas sales and New Year's sales, when stores sell off excess inventories.
Many Christians, as well as anti-consumerists both religious and secular, decry the "commercialization" of Christmas. They accuse the Christmas season of being dominated by money and greed, at the expense of the holiday's more important values. Frustrations over these issues and others can lead to a rise in Christmastime social problems.
Most Economists agree, however, that Christmas produces a deadweight loss, or burden, associated with the surge in gift-giving. This loss is calculated as the difference between what the gift-giver spent on the item, and what the gift-receiver would have paid for the item, sentimental values aside. Estimates in 2001 were a $4 billion deadweight loss as a result of the gift-giving. See this article in The Economist for more information.
In North America, film studios release many high-budget movies in the holiday season, many of them being Christmas films, fantasy movies and/or high-tone dramas with rich production values, both to capture holiday crowds and to position themselves for Oscars. Next to summer, this is the second most lucrative season for the industry. Christmas-specific movies generally open in late November or early December, as their themes and images are not so popular once the season is over. The winter movie season spans from the first week of November until mid-February. |
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