Economy
Discover facts about economy. Small discoveries that change the way you see familiar things.
Economy
Was Monopoly’s mascot based on J.P. Morgan
It turns out the cute cartoon mascot of board game capitalism is allegedly modeled after one of the most ruthless monopolists in American history. J.P. Morgan…
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Normal yield curves demand higher interest for time risks
Lending capital for a decade is inherently more terrifying than lending it for a single month, and the math usually reflects that fear. A normal yield curve…
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Swiss bank secrecy began as protection for Jewish assets
The world's most famous tax evasion tool actually started as a human rights initiative. The 1934 Swiss Banking Act made it a criminal offense for banks to…
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How merchants tested coins with a single drop
Before complex forensic tools existed, your best defense against a financial scam was just chucking your money at a table. To ensure a coin wasn't mixed with…
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Politicians act strictly in massive self-interest
Public choice theory violently shatters the illusion of noble public servants. It assumes politicians are just as ruthlessly self-interested as anyone else,…
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Why Canadian banknotes allegedly smell like maple syrup
It's the most aggressively stereotyped conspiracy theory in the financial world. Ever since Canada introduced durable polymer plastic bills, citizens have…
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Sovereign wealth funds hoard national treasure
Because some nations simply have too much cash lying around. Countries pool their excess revenues from natural resources into massive state-owned investment…
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Historical autographs easily eclipse the value of the paper
A profound, historically significant letter written by an anonymous soldier is worth roughly twenty dollars. A grocery list hurriedly scribbled by Abraham…
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When mortgage brokers approved loans for pets
When brokers are getting paid purely on commission, the concept of a "credit check" becomes completely detached from reality. During the peak of the subprime…
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How a lifetime of memories becomes an estate sale
Nothing clears out a lifetime of collected memories quite like strangers rummaging through your deceased grandparent's living room looking for a cheap…
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Steve Wozniak pays with sticky notes made of money
When you're a billionaire tech pioneer, standard sticky notes just don't carry enough arrogant flair. Wozniak literally buys uncut sheets of legal $2 bills…
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Some nations produce everything better than others
A harsh reality of geography and infrastructure. Certain countries can simply generate more output per unit of input across the board, giving them a massive…
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How one coworker's bad mood spreads through an office
Emotional contagion means Steve's terrible mood on Tuesday morning is about to completely ruin your Tuesday morning. Humans naturally mimic the emotional…
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How old money becomes a five-dollar souvenir
When old currency is permanently retired, it does not just gracefully disappear. Facilities routinely take millions of dollars, aggressively run them through…
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Two-dollar bills feature a massive historical painting
Because nothing screams intrinsic value like a tiny mural crammed onto a piece of cotton, the two-dollar bill remains a bizarre artistic anomaly. The reverse…
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Group bargaining stalls until someone acts first
In a collective negotiation, people will sit in agonizing silence, absolutely terrified to reveal their position, until one brave fool finally throws out a…
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Why printing money doesn't always cause inflation
The old myth that firing up the central bank printing press instantly makes your cash worthless ignores where the funds actually go. If all that newly printed…
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Extreme bird watchers spend heavily on high end optics
Spotting a rare woodpecker in a distant tree requires gear that rivals military snipers. Enthusiasts drop unbelievable sums on specialized binoculars,…
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Paternity leave is rarely fully utilized
Even when offered, the stigma against fathers taking time off is a powerful cultural deterrent. Many men leave massive amounts of paid paternity leave sitting…
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Why the €500 note was called the Bin Laden
When a banknote is so wildly valuable that no honest person ever uses it, it quickly gains a terrible reputation. The massive purple note earned its dark…
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Why companies hold meetings about other meetings
Meeting bloat is the primary reason your calendar looks like an unwinnable game of Tetris. As organizations grow, coordination costs skyrocket, leading to a…
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Why cruise ships add automatic tips to your bill
Why pay your massive staff a living wage when you can just force the passengers to do it? By quietly slipping massive automatic gratuity charges onto every…
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Why banks once dismissed ATMs
Innovation always encounters aggressive resistance from old men in expensive suits. When the first ATMs rolled out, bankers largely viewed them as an absolute…
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Tropical grass roots prevent severe agricultural erosion
Vetiver grass is the duct tape of tropical agriculture. Its incredibly dense, deep-growing root system acts like biological rebar, firmly holding soil…
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