Economy
Discover facts about economy. Small discoveries that change the way you see familiar things.
Economy
The candle tax that pushed people to burn fat
Manufactured candles carried a tax, so some working-class households made rushlights themselves from animal fat. They avoided the levy but risked setting the…
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Why companies spend millions changing a logo
A company can spend millions on a rebrand whose visible change is just rounded logo corners. The bill also covers an agency’s strategy work, not only the…
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The tax loophole behind Amazon's first product
Books were easy to ship, and an online store without a physical presence in a state could avoid collecting that state’s sales tax. That made books a practical…
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Rockefeller built his fortune at oil's bottleneck
Standard Oil grew by refining crude and bringing competitors into a vast business network. By 1880, it controlled roughly 90 percent of American oil refining.…
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Why counterfeit pens can miss fake bills
The pen isn’t checking whether a bill is genuine; it’s checking for starch in ordinary wood-pulp paper. Counterfeiters can print on linen-blend paper, which…
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Why Dasani disappeared from the UK
The problem was that Dasani was treated Kent tap water, and reports found bromate in it, a substance suspected of causing cancer. Coca-Cola's UK launch…
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An orchestra's ticket price rarely tells the whole funding story
Earned income sits alongside donations, grants, and investment income in orchestra finances. A concert requires paying and coordinating a large group of…
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Why airlines make billions from baggage fees
A checked bag used to be included with the ticket; airlines began charging for it separately. That turned one bundled service into its own source of revenue.
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Why brothers sometimes shared a wife
Keeping a farm intact could shape a family's marriage arrangement. In some mountainous regions, brothers shared one wife so their land would not be divided…
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Why Funko destroyed millions of unsold figures
Funko had warehouses full of figures nobody wanted. Crushing them cost less than continuing to pay for storage.
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A leadership offer can arrive just as things fall apart
The 'glass cliff' describes a pattern in which women or other underrepresented leaders are appointed to especially precarious roles. The promotion brings…
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How fake organic labels fool shoppers
A shopper can’t easily check how a crop was grown just by looking at it, especially when it crossed borders. Some suppliers exploit that gap by putting fake…
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Phillips curve links inflation inversely to unemployment
The Phillips curve describes a possible short-term trade: lower unemployment may arrive alongside higher inflation, while higher unemployment may accompany…
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The insulin patent was assigned for a dollar
The University of Toronto archive preserves the 1923 assignment by Banting, Best, and Collip. The researchers' stated aim was to prevent others from…
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How Wells Fargo employees created millions of fake accounts
Wells Fargo workers faced aggressive targets to sell existing customers more products. Some met those targets by opening accounts customers had never…
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Why game studios spend millions on one skin
A studio can spend millions making one cosmetic skin, then sell it for $20. If players buy enough of the digital outfit, it can be a more lucrative bet than…
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Warren Buffett regrets not investing even earlier
In 1942, 11-year-old Buffett spent $114 on three shares of Cities Service Preferred. He later joked that he had wasted his first decade by not investing sooner.
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The circus keeps selling after you buy a ticket
Souvenirs and concessions create another stream of revenue once the audience is inside. A light-up toy lasts beyond the performance, while food and drinks…
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Putting your name on a company board can make someone else's business your responsibility
A nominee director may be appointed to represent another party or meet local requirements. But the title can still carry legal duties to the company,…
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Getting a hundred bucks today is mathematically superior
A hundred dollars today can start earning interest right away. Wait a year, and rising prices may leave that same hundred able to buy less.
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Government borrowing prevents all private sector investment
When the government borrows heavily, it competes with businesses for money investors could lend. That can leave companies with fewer loans available to expand.
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Free blood donations still cost money to get to a patient
A donated unit must be collected, tested, separated into components, stored at controlled temperatures, and delivered when needed. Hospitals pay for that…
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Coleco started out making shoe leather
When demand for shoe leather fell, the Connecticut Leather Company changed what it made: plastic wading pools, video game consoles, and Cabbage Patch Kids.…
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Why a tiny postage stamp can be worth millions
A printing error put an airplane upside down on a postage stamp. That mistake can make the stamp worth millions to collectors who prize the misprint.
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