In Canada, $963 million of the $5.4 billion we spend at Christmas is dead-weight loss. In the States, it’s about US$13 billion, and for all OECD countries, the loss is a huge US$25 billion.

Hitting the malls in search of Christmas gifts can be a stressful experience, but there's nothing quite like receiving that perfect, thoughtful gift. Why do we give presents at Christmas?