What An Economist Says on Valentine’s Day

On Valentine’s Day, an economist might send some production possibilities to her sweetheart:

In addition, an economist’s Valentine would certainly refer to inelastic devotion:

And marginal (extra) returns:

Some #FedValentines

These were some of my favorites:

• “Like fiat money, our love is based on trust.” (Justin Wolfers)
• “You’re my gold standard.” (Justin Wolfers)
• “I’ll be your lover of last resort” (Planet Money)
• “When I look into your eyes, I have no fractional reserve. (Heidi Moore)
• Roses are nice but money we exalt; Be my Valentine and you get the (gold) vault. (econlife)

Our Bottom Line: An Economist’s Valentine Facts

The National Retail Federation tells us that for Valentine’s Day, a typical man will spend $291.15 and a woman, $106.22  Averaging $196.31 for all of us, the total is up 21 percent from last year.

You can see below that although the NRF says just 55 percent of us will celebrate the Day, spending will soar:

And we will spend the most on candy, cards, flowers, and maybe an evening out:

My sources and more: There are more economist’s Valentines at Elisabeth Fosslien’s website and #FedValentines at Freakonomics. Much less fun, the NRF had the holiday’s facts. And finally, you could want to see how Valentine’s Day relates to the prisoner’s dilemma.