Economy
Discover facts about economy. Small discoveries that change the way you see familiar things.
Economy
The original Dow average followed a railroad-heavy economy
Charles Dow's 1884 average contained eleven stocks, mostly railroad companies. The Industrial Average followed in 1896 with a different lineup. An index is a…
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The equation that changed how Wall Street prices risk
An option gives its holder the right to buy or sell an asset at an agreed price. The 1973 Black–Scholes model connected its theoretical value to quantities…
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Some counterfeit dollars were so good they acquired a special name
'Supernotes' imitated the appearance and security features of genuine U.S. $100 bills unusually well. U.S. authorities accused North Korea of involvement,…
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America has more public libraries than McDonald's
Nearly 17,000 public library branches dot the U.S.—more locations than McDonald’s. They give people free access to information across the country.
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Japan's Ronald McDonald became Donald McDonald
The character uses the name Donald in Japanese branding. The localized name has its own familiar sound for that audience, even though the red-haired clown is…
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Tulip mania didn't crash the Dutch economy
A few wealthy merchants paid enormous sums for rare tulip bulbs, but the crash did not bankrupt ordinary Dutch families or wreck the national economy. Later…
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German students helped create money meant to stay nearby
The Chiemgauer launched in Bavaria in 2003 through a school project. Participating shops accepted the regional currency, encouraging customers to spend within…
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Credit card networks make massive profits from merchant fees
A card purchase costs the merchant more than the price of the item: the payment network takes a transaction fee. Repeat that across a huge number of sales and…
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The word mortgage literally means death pledge
The old French phrase behind “mortgage” treats a house loan like a pledge that ends in one of two ways: the borrower pays it off, or the lender forecloses and…
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A stock-trading typo cost a Japanese firm over $200 million
The trader meant to offer one share for 610,000 yen. Instead, he offered 610,000 shares for one yen each, turning a single flipped set of numbers into a loss…
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A London office building can be an investment for another country's future
Sovereign wealth funds invest government assets, including revenues from resources such as oil, in property and other holdings overseas. A building's tenants…
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Your dentist may be using gold
Gold doesn’t corrode easily and works well with the body, so dentists can use it for crowns and bridges meant to last. The metal’s value isn’t just…
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Why the US stores helium underground
The National Helium Reserve in Texas began as a supply for military airships. Its stored helium has a different use today: cooling MRI machines.
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Who buys bonds from countries that no longer exist
A bond from a country that no longer exists can still have two kinds of buyers: collectors who want the engraved certificate, and investors betting a…
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Gold bars vary slightly in their exact weights
Gold bars can vary slightly even when they’re all around 400 troy ounces. The certificate stamped on each one records its actual weight.
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Switzerland makes money adding value to imported coffee
It imports beans and sells products whose value comes from roasting, packaging, branding, and distribution. The country does not need a large coffee-growing…
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M&M's linked the Mars family to a Hershey connection
Forrest Mars partnered with Bruce Murrie, whose father led Hershey, and their surnames supplied the two M's. The partnership helped secure chocolate and other…
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One extra s helped sink the wrong company
Companies House mistakenly recorded Taylor & Sons as in liquidation when the order concerned Taylor & Son. The false information spread to credit services and…
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Starbucks began by selling coffee you had to brew yourself
Its first Seattle store opened in 1971 selling whole beans, tea, and spices for customers to take home. The espresso-bar identity came later. The brand now…
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Escobar's son described a fire fueled by cash
Juan Pablo Escobar said in a 2009 interview that his father burned about $2 million in banknotes to warm his daughter while the family was hiding. It is the…
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Farm subsidies can make a cow a symbol of global inequality
Early-2000s trade debates compared support for European cattle with the daily incomes of people in poorer countries. The comparison was an advocacy shorthand,…
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Apple earns gaming revenue without selling a game console
App Store transactions can generate commissions for the platform that distributes the game, even when another company built it. Rates and rules vary by…
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A tuna sold for $3.1 million in Tokyo
At Tokyo’s Toyosu market in 2019, one 612-pound bluefin tuna went for $3.1 million—about $5,100 per pound. Buyer Kiyoshi Kimura set a record with a fish heavy…
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Why Sweden imports other countries' trash
Sweden’s waste-to-energy plants need fuel, and sometimes the country doesn’t have enough of its own rubbish to feed them. So it imports trash from neighboring…
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