The Business podcast: Christmas economics and a review of 2011

In the final week before Christmas shoppers tend to discard their usual quest for good value in a frenzy of last-minute panic buying. The result: unwanted presents that gather dust come January. In fact, we'd be better off not buying Christmas gifts at all, says economist Joel Waldfogel , author of Scroogenomics . But where's the fun in that? And does he dismiss the value of traditional gift-swapping too readily? We put him to the test. Also this week: we look back on 2011 - a year that had economists dusting off their Keynesian text books and works of depression-era history. Larry Elliott talks us through the main events and wonders when the intellectual titans of the current crisis will make themselves known. Plus: Simon Goodley rounds up a year in business that many will want to forget. Leave your thoughts below. The Business podcast returns in January 2012.