¡¯Tis the season to spend lots of money on extravagant, largely useless gifts.
At least that¡¯s what the latest figures from the National Retail Federation would suggest. This November and December, U.S. shoppers will likely spend upward of a trillion dollars, with the bulk of the money going toward Christmas gifts.
It wasn¡¯t always so. Before the 19th century, Christmas remained a relatively minor holiday rooted in pagan rituals. But as the U.S. industrialized and became the world¡¯s largest economy, Christmas became a celebration of commerce and consumption, with Santa Claus its greatest salesman.
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