Why Scrooge was right to be so tight

Article Abstract:

Scrooge is a Christmas character criticised for being frugal, yet this can be a virtue, and his wealth was invested in ways that economist Adam Smith would have approved of. Scrooge was an employer who offered reasonable conditions for the time. Scrooge was seen as selfish, yet he specialized in what he understood. Gifts can involve a waste of money since the recipients do not always value them. Scrooge's callousness reflected the views of the time, and charity tended to be linked to self-interest in his time.

Economic aspects, Criticism and interpretation, Christmas, A Christmas Carol (Novel)

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In a perfect world...

Article Abstract:

Many markets which would enable investors to spread risks more effectively do no exist, perhaps due to either a lack of demand or 'accidents of history'. Such markets include global tracker funds, house price derivatives and human capital securities.

Supply and demand, Investments, Financial instruments

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