5min chapter

Cautionary Tales with Tim Harford cover image

The Company That Cancelled Christmas

Cautionary Tales with Tim Harford

CHAPTER

The Christmas Gift Dilemma

Ella spent $20 on Mrs B for a useless gift because Ella had to give something. And Mrs B had to graciously receive it. It's one fair pack, an hour's worth of real resources being wasted. When Fair Pack collapsed, the nation rallied round - sort of. A fund was set up to replace the lost vouchers. Some supermarkets threw in a few hundred thousand dollars. Members of Parliament donated a day's salary and solidarity. My lean class raised money for the compensation fund by auctioning off a white bikini that she had worn to great effect on a reality TV show. All very jolly. But in the end, Fair Pack's customers only got about half their

00:00

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode