In “The Gift of the Magi,” O. Henry tells the story of Della and Jim, a couple rich in love who can barely afford their $8 per week flat. It’s Christmas, and Della sells her long, beautiful hair to a wig maker so she can buy Jim a fob for his pocket watch. Meanwhile, Jim sells his beloved watch to buy Della combs for her silken tresses. Their selfless sacrifices become materially irrelevant as their love triumphs.

Of Della and Jim, O. Henry writes:

…here I have lamely related to you the uneventful chronicle of two foolish children in a flat who most unwisely sacrificed for each other the greatest treasures of their house. But in a last word to the wise of these days let it be said that of all who give gifts these two were the wisest.

O. Henry whipsaws American readers with those two sentences. Within the immoral system that accurately describes much American economic and political behavior, Della and Jim are indeed foolish. In the real America, Della might be expected to pawn Jim’s watch to buy her combs, and Jim would cut Della’s hair in her sleep so he could afford a fob for his watch. Any effort to deter such selfishness would be ridiculed as unwarranted intervention in the free market.

O. Henry speaks of Della and Jim’s unwise sacrifice only to turn and say, think again. Jim and Della are the wisest of all.

I think – with much support from the science of empathy and altruism – that humans have a natural tendency to give, to sacrifice self-interest to strengthen bonds of love, friendship and community. The Thieves of Wealth view that truth as subversive, of course. Their real achievement lies in convincing each of us that the rest of us are bloodthirsty sharks. They teach Della that given the chance, Jim would slice off her hair. Likewise, they convince Jim that Della, given the opportunity, would steal his watch.

Now, a loving couple would probably not behave toward one another as the Thieves say we will behave. To avoid this contradiction, the Thieves preach that human nature is different in the private sphere than in the public sphere. We are, according to the Thieves of Wealth, schizoids. A loving, nurturant father at home becomes a cold, unforgiving tyrant at work. In many instances, we have, sadly, become what the thieves wanted us to become.

In today’s America, Della would be judged in public life only with regard to whether or not she has combs for her hair. How she got them is irrelevant. In fact, since love and compassionate have been banished to private life, it’s rather expected that Della will come by her combs through some trickery or theft.

Wealth of the few gained at the impoverishment of the many becomes its own moral justification. As it is with the Calvinist Elect, material success is taken as a sign of God’s favor. When the rich and powerful stumble, it’s big news, largely because within the context of the national myth, they have literally fallen from Grace.

I don’t think we’re going to make much headway toward economic and social justice until we tear down the private/public divide and reintegrate our natures.

“The Gift of the Magi” is one of the stories included in the marvelous 1952 film, “O. Henry’s Full House.” As John Steinbeck says in his introduction to the “Magi” segment of the film, O. Henry wrote “Magi” and the other stories included in his book, The Four Million, to contest the Gilded Age conceit that there were only 400 people worth knowing in New York City.

Jeanne Crain plays Della and Farley Granger plays Jim. Henry King directs “Magi.” Stars of the film’s other four stories include Marilyn Monroe, Charles Laughton, Richard Widmark, Jean Peters, Gregory Peck, Fred Allen, Oscar Levant, and directors Howard Hawkes and Henry Hathaway.

Part I of the “Magi” segment is embedded above. You can watch Part II here, and Part III here.