University of Minnesota economics professor Joel Waldfogel says he has nothing against Santa Claus. It's this "orgy of value destruction" he finds so appalling. Americans will throw away $14 billion this year buying gifts that the recipients don't want, like or need, he says. A pitch from the University of Minnesota earlier this week reminds us that Waldfogel has written a book about this: "Scroogenomics: Why You Shouldn't Buy Presents for the Holidays." I'm sure they're not trying to increase sales. In a dry, 10-minute video on YouTube, Waldfogel argues that around the world, we waste $25 billion a year through "non-careful giving." That's because, hey, if you give me $50, I'm going to buy it on something that gives me $50 worth of joy. Not socks or a tie or a sweater that's the wrong size, color, fabric, style. His research does assign some weight to the sentimental value. So, maybe you'd only pay $30 for the same sweater, but because it gave your dad such joy to give it to you, that might be worth another $20. Displaying bar charts and summoning 16 years of research, Waldfogel says the best gift givers are those closest to us: parents, spouses, best friends. The worst: Aunts and grandmas (do uncles and grandpas go shopping?), and other extended relatives. The solution for these losers? Go buy the book! My advice: Cold hard cash. As Waldfogel points out, about $8 billion in unused gift cards adds to what he calls this "nightmarish vision" of holiday gift-giving waste.