Economy
Discover facts about economy. Small discoveries that change the way you see familiar things.
Economy
Personal bankruptcies wipe out huge debts
Bankruptcy can wipe out many unsecured debts, but it does not erase every consequence. A damaged credit rating can follow the person after the debt is legally…
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Why troubled mergers rely on the word synergy
Executives can promise that two struggling companies will be worth more together, then call the promised gains “synergy.” That claim can help justify a high…
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The United States once issued paper money worth three cents
Coin shortages during the Civil War helped bring fractional currency into circulation. These small notes covered amounts normally handled with coins,…
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When playing cards became money in New France
During a coin shortage in 1685, New France's finance official Jacques de Meulles issued playing cards as emergency money to pay soldiers. Their value came…
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Why Saudi Aramco can make billions pumping oil
Saudi Aramco can make billions because it pumps oil from vast reserves at very low cost. The gap between what it costs to get the oil out and what the oil is…
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Judging candidates entirely on random shared hobbies
A candidate mentions a hobby you share, and suddenly they can feel more capable than the evidence says. Common interests may create rapport, but they don’t…
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Unicode defines an emoji. Companies own their drawings of it
The eggplant emoji isn’t one universal drawing. Unicode defines the character, but each company can create its own artwork—and copyright that specific version.
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Why fitness trackers keep needing replacement
A fitness tracker’s replacement clock may be set by its battery, not its features. As the battery holds less charge, the wearable may need replacing after…
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When almanacs became taxable luxuries
A planting calendar was useful enough to ordinary readers, but stamp acts taxed printed almanacs and pushed their price up. Even a book for planning the crops…
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How gas wealth damaged the Dutch economy
Gas money helped push up the currency, which made other Dutch exports costlier for foreign buyers. The boom in one industry squeezed the competitiveness of…
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The glass tax that made greenhouses too expensive
When a glass tax depended on weight, manufacturers cut the weight by making thinner panes. The result was fragile glass, and the extra cost helped make…
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The Roman goddess of money was called Pecunia
Pecunia was the Roman goddess people appealed to for financial success. They weren’t just asking a god to bless their work; they treated money itself as…
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Scratch-off winners are chosen before tickets reach stores
Printers assign and track winning tickets before the tickets go on sale. Scratching doesn’t create the result; it reveals the one already mapped during…
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Venture capitalists regularly value startups on user eyeballs
Some investors value a startup on its audience before it has much revenue. They are betting that a huge crowd of users can eventually be turned into paying…
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The Happy Meal's toy story began with a cardboard circus wagon
McDonald's introduced the Circus Wagon Happy Meal nationally in the US in 1979, combining food with small extras aimed at children. Later promotions brought…
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Choosing one option destroys all alternative choices
The cost of a choice includes the best thing you could have done instead. Pick one option, and that alternative is the one you give up.
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Federal minimum wage remains wildly stagnant
When prices rise but the federal wage floor barely moves, the same paycheck buys less. Inflation quietly cuts the value of each minimum-wage dollar.
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A former journalist helped create the hedge-fund model
Alfred Winslow Jones launched an investment partnership in 1949 that combined buying shares with short selling. The aim was to offset some broad market…
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A winning lottery ticket can expire into a worthless keepsake
Prizes have claim deadlines, and missing one can extinguish the right to collect. Washington state, for example, generally allows 180 days under its…
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Why quiet quitting scares managers
The friction is over what the paycheck buys. Workers who stop doing unpaid extras may see it as sticking to the deal; managers may read the same boundary as a…
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Some private islands cost less than city apartments
The cheap ones may be little more than bare land surrounded by water. You can pay less than you would for a city apartment, but the bargain may buy isolation…
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Governments strictly limit the exact number of imports
The quota can leave willing buyers waiting while goods sit just beyond the border. Once the allowed number has entered, officials admit no more, however…
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Why your credit score’s formula is a secret
The scoring company keeps its formula proprietary, so borrowers cannot know exactly how each move will affect their number. Even paying off a loan quickly can…
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Why cooking a huge pot of stew saves effort
The slow part is chopping, and ten portions don’t take ten times the chopping. Make one huge pot and that same prep work feeds several meals.
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