Free exchange

Advertising may make people miserable, but still has its uses

Workers keen to buy more goods keep toiling away

EVERY YEAR, as Americans polish off their Thanksgiving feasts, a particular type of television advertisement begins to air. The details vary, but the plot is always the same: one family member surprises another with the Christmas gift of a luxury car, often adorned with a cartoonishly large bow. The recipient never betrays a hint of the dismay one might expect to see on the face of someone whose partner has without consultation spent tens of thousands of dollars. Such a car can easily cost more than the median annual income of an American household, and most people who see these ads will not be able to afford one. But the envy such spots induce serves an economic purpose, even as it leaves the majority feeling worse about themselves.

Less good than a feast