More than 100,000 families - many of them amongst the poorest in Britain - put money aside for Christmas gifts and other seasonal treats in a savings club called Farepak. It wasn't a bank, and it wasn't great value for money... and it went bust. Kids went without toys, and festive dinner tables were left bare. 

Why would someone put their hard-earned money into such a scheme? And what does it tell us about how we often view Christmas as a time for frenzied spending? 

For a full list of sources used in this episode visit Tim Harford.com

CAUTIONARY TALES RETURNS 6 JAN, 2023. HAPPY HOLIDAYS AND SEE YOU IN THE NEW YEAR. 

More than 100,000 families - many of them amongst the poorest in Britain - put money aside for Christmas gifts and other seasonal treats in a savings club called Farepak. It wasn't a bank, and it wasn't great value for money... and it went bust. Kids went without toys, and festive dinner tables were left bare. 
Why would someone put their hard-earned money into such a scheme? And what does it tell us about how we often view Christmas as a time for frenzied spending? 
For a full list of sources used in this episode visit <a href="https://timharford.com/">Tim Harford.com</a> 
CAUTIONARY TALES RETURNS 6 JAN, 2023. HAPPY HOLIDAYS AND SEE YOU IN THE NEW YEAR.

We tell our children unsettling fairy tales to teach them valuable lessons, but these Cautionary Tales are for the education of the grown ups – and they are all true. Tim Harford (Financial Times, BBC, author of “The Data Detective”) brings you stories of awful human error, tragic catastrophes, and hilarious fiascos. They'll delight you, scare you, but also make you wiser. New episodes every other Friday.

We tell our children unsettling fairy tales to teach them valuable lessons, but these Cautionary Tales are for the education of the grown ups – and they are all true. Tim Harford (Financial Times, BBC, author of “The Data Detective”) brings you stories of awful human error, tragic catastrophes, and hilarious fiascos. They'll delight you, scare you, but also make you wiser. New episodes every other Friday.

Cautionary Tales with Tim Harford

We tell our children unsettling fairy tales to teach them valuable life lessons, but these Cautionary Tales are for the education of the grown ups – and they are all true. Tim Harford (Financial Times, BBC, author of “The Data Detective” and “The Undercover Economist”) brings you stories of awful human error, tragic catastrophes, daring heists and hilarious fiascos. They'll delight you, scare you, but also make you wiser.

We tell our children unsettling fairy tales to teach them valuable life lessons, but these Cautionary Tales are for the education of the grown ups – and they are all true. Tim Harford (Financial Times, BBC, author of “The Data Detective” and “The Undercover Economist”) brings you stories of awful human error, tragic catastrophes, daring heists and hilarious fiascos. They'll delight you, scare you, but also make you wiser.

The Company That Cancelled Christmas

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/0c49ac97-4228-4446-b4a5-af6400e652df/transcript

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