When you stop to think about it, it is scary to realize how much the Gross National Product depends on Christmas. (I know it’s more politically correct at this time of year to replace references to Christmas with “the holidays,” but let’s face it—it’s Christmas music that at least two area radio stations are already playing nonstop, around the clock.)

There is a whole industry that’s grown up around this holiday—and any of the other holidays that get celebrated by gift-giving at this time of year. (In fact, a Google search of the words “holiday industry” turns up 2,750,000 results.) First, retailers outdo themselves trying to get us “in the mood” to celebrate—and spend money. Decorations of red and green start to appear in stores before Halloween, and as Thanksgiving approaches, shoppers are bombarded with holiday music. (“Bombarded” may be too strong a word—many people love holiday music, myself among them—but I know a marketing ploy when I hear one.) After Thanksgiving advertisers whip us into a frenzy of anxiety and guilt by offering sales and “deep discounts” to entice us to spend, spend, spend. It becomes hard to resist. As holiday gift catalogues start arriving in the mail—with glossy photos of gifts piled high under Christmas trees—so do credit card offers. Advertisements on TV and radio start to include offers to help people get out of debt.

Now, in addition to all of this, news reports warn us of a crashing economy, pointing to retail sales as an indicator of our economic health. Fears of recession, or even depression, cause people to hang onto the money in their wallets. (But even this brings a dose of guilt: Are we being unpatriotic by not spending money? Are we causing the recession?)

Advocates of simpler living remind us that gifts can include something homemade or something recycled, and that gift-giving could—and should—come from the heart. Meaningful gestures to honor someone don’t have to cost a lot of money. There was a time when this was the rule, rather than the exception.

But if we were to go back to those simpler times, what would happen to the manufacturers, retailers, ad agencies, credit card companies, and debt consultants? What would happen to the Gross National Product? Would we be richer or poorer?

—L.K.