Economy
Discover facts about economy. Small discoveries that change the way you see familiar things.
Economy
Why museum tickets don't pay the bills
A museum has to pay for guards, stable temperatures, and preservation whether or not many people visit. Admissions and gift-shop purchases often don't cover…
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Stop looking for work and you can disappear from the jobless rate
The headline rate counts people without jobs who are actively looking for one. Stop searching, and you’re generally classified as outside the labor force…
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How Al Capone helped put dates on milk bottles
Al Capone is often credited with pushing Chicago to require dates on milk bottles. The story says he already owned the machinery to stamp them, putting a…
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The fake shoppers who made grocery carts popular
Customers thought the carts looked wrong: men saw them as unmanly, and women saw baby strollers. So Sylvan Goldman paid models to push carts through his…
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Rare earths are often difficult to separate, not difficult to find
Several rare-earth elements are relatively abundant in Earth’s crust, but concentrated deposits are another matter. Their similar chemistry also makes…
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Why cheating at board games can be rational
Suppose you can quietly pocket an extra Monopoly bill, and the odds of anyone noticing seem low. If that cash is worth more to you than the chance of getting…
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Why oil-rich countries can struggle
A country can have valuable oil and still neglect other industries if so much depends on oil income. That dependence can also create openings for corruption.
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Used car lots naturally fill up with terrible vehicles
A used-car buyer has to guess what’s hiding under the hood, while the seller may already know. That makes buyers wary of paying extra for a well-kept car, so…
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How unfairness can still count as efficiency
Imagine one person sitting on 99% of the food while everyone else starves. The distribution can still count as “efficient” if giving anyone a bite would leave…
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Paying off five high interest loans with one massive loan
One large loan can replace five high-interest payments with a single bill. But if it takes longer to repay, the extra months can leave you paying more…
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Printing more money rarely solves structural market issues
Printing money may put more spending power in people's hands, but it does not restock empty shelves. When goods stay scarce, extra money can chase the same…
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Mutilated paper money is routinely shredded and incinerated
Once damaged notes can no longer be used, central authorities destroy them. The shredded remains may end up as fuel—or compressed into souvenirs made from…
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Why cashew fruit is left to rot
The nut can make the journey; the attached fruit usually cannot. Because it spoils too quickly for global shipping, edible, nutritious cashew fruit is often…
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Prisoners could literally smoke their money
Economist R. A. Radford described cigarettes functioning as currency in WWII prisoner-of-war camps. They were familiar, portable and useful to smokers, so…
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Enron built a fake trading floor to impress investors
Visitors saw a busy trading floor, but Enron had staged the scene. In 1998, staff pretended to make frantic calls so stock analysts would think the business…
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An asset manager can vote shares it doesn't own for itself
Index funds pool investors' money and buy shares across many companies. The management firm administers those holdings and can exercise voting…
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How corporations borrow money without a bank
Investors lend directly to a company when they buy its bonds. The company gets money now and promises to pay them back with interest, without borrowing from a…
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Bowling alleys generate primary revenue from lane rentals
A bowling alley’s biggest earner is often the lane, not the snacks or drinks. Those hourly rentals help pay to keep the mechanical pinsetters running.
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A business deduction once came with paws
In a 2005 U.S. Tax Court case involving a used-car business, the IRS did not contest a claimed guard-dog deduction, even while disputing other expenses. The…
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Too many pension choices can cost you employer money
Give employees 50 retirement funds to choose from, and some may choose none. That can mean leaving their employer’s matching money on the table.
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National economic metrics include citizens living abroad
A country’s residents can earn money abroad and still count toward this measure of national output. GDP draws a different border: it counts production inside…
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Basis points equal exactly one hundredth of a percent
Instead of saying an interest rate moved by 0.01 percentage point, analysts can call it a one-basis-point change. A hundred of those tiny steps add up to one…
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Vintage toys lose their entire value if opened from plastic
That old action figure may be worth more trapped behind plastic than in a child’s hands. Collectors prize the unopened package, so breaking the seal can slash…
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Intellectual work holds far more value than physical labor
A rock hauler gets paid for moving one load; an algorithm writer can be paid for a prediction that helps price many loads. If buyers trust the forecast, the…
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