Economy
Discover facts about economy. Small discoveries that change the way you see familiar things.
Economy
Customers eagerly overpay just for fleeting memories
People may pay a premium for a brief event because the purchase is really about being there. The atmosphere and escape are part of what they’re buying.
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Venture debt lets startups borrow money against their patents
A startup can borrow without handing over another slice of ownership by pledging its patents or software instead. If it can’t repay, the lender can take the…
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Brie’s rind comes from a mold cloned for decades
Brie’s white rind is Penicillium mold. Cheesemakers kept cloning a favored albino strain for decades, leaving the cultivated mold with very little genetic…
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Why Hollywood traded movies that didn’t exist
An unmade movie can still change hands: executives and collectors trade its script before anyone has filmed it. Sometimes the possibility of a hit is worth…
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Woven jute fibers provide biodegradable packaging sacks
Coffee beans need to breathe on a long trip, so shippers pack them in coarse jute sacks instead of sealing them in airtight bags. The plant's long fibers can…
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France helped win America’s independence—and went broke
Louis XVI wanted revenge for France's defeat in the Seven Years’ War, so he paid to help the American colonies fight Britain. The bill strained France's…
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High yield bonds are just corporate debt with massive risk
Their high interest rates compensate investors for the chance the company will default before repaying them.
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How industries end up controlling their regulators
The companies being watched can spend time and money lobbying the agencies watching them. That pressure can turn strict regulators into allies of the…
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Unexploded ordnance clearance costs billions globally
The war may be over, but the bill for its buried explosives keeps coming. Specialist teams still have to find and clear landmines and unexploded bombs before…
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Cleaner fish face consequences for taking the wrong kind of bite
A cleaner can prefer a client's protective mucus to the parasites it is supposed to remove. Clients may chase it or leave for another cleaner. Experiments…
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How a few gaming whales keep free games afloat
Most players spend nothing, but a few spend thousands on digital currency. Their bills help keep the servers running for millions of free players.
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Drip irrigation relies on miles of microscopic plastic tubing
Across a field, thin plastic tape carries water through tiny laser-cut mazes. The labyrinths slow the flow until it comes out one drop at a time.
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3M originally mined grinding wheel minerals
3M’s first plan was to mine corundum for grinding wheels. The venture produced anorthosite instead, sending the company toward sandpaper—and, eventually, tape…
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Why groups wait for one person to volunteer
The group benefits when someone accepts the penalty, but no individual wants to be the one who pays it. So everyone waits for a volunteer; if nobody steps…
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Wrigley gave away gum—and accidentally built an empire
Vendors got free gum as a bonus for buying Wrigley’s baking powder in 1892. The gum proved more popular, so Wrigley switched his main business to the giveaway…
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Dictionaries have planted fake words to catch copycats
An invented entry can act like a fingerprint. If a rival reference book repeats it, shared public knowledge becomes a less convincing explanation than…
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First glasses of water hold incredible utility
When someone is parched, the first cup of water can feel enormously valuable. A ninth cup matters much less because the thirst that made the first one…
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Old dollar bills can end up in compost
Federal Reserve banks remove worn-out notes from circulation and shred them. The shredded material has found uses including compost, insulation, and other…
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Immigration suppresses inflation by expanding labor pools
When workers are scarce, restaurants may have to offer higher pay to fill shifts, and those costs can feed into menu prices. More available workers can ease…
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Why vacuum cleaners have clear dust bins
With an opaque bag, the dirt vanished from view as soon as the vacuum swallowed it. A clear bin lets users watch the dust pile up, making the cleaning feel…
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Sony imagined ads you could skip only by shouting
A viewer could get past an ad only by standing up and speaking its sponsor's name into a microphone. Sony patented the idea, but never fully put it into use.
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'Shelling out' pictured money coming out like nuts
The spending expression is recorded from 1801 and is generally traced to removing something from its shell. It turns reluctant payment into an extraction: the…
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How companies get bought against their will
The bidder doesn't have to persuade the company's leaders. It can go around them, buy enough shares from willing shareholders, and gain control over their…
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Issuing government bonds is borrowing from grandchildren
When the Treasury sells a bond, it gets money to spend now and promises to repay the buyer later, with interest. Future taxpayers ultimately fund that…
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