(credit: Lea Latumahina BY CC)

The point of tipping

An old and persistent custom offers rich insight in our profound economic nature

I have to start with an embarrassing confession. On my very first business trip to the US, having arrived on a Saturday evening, I thought I’d treat myself to a proper breakfast the next morning. The bill came to — I remember it well — $12.45, and when I settled it with a $20 note, I left just…