Economy
Discover facts about economy. Small discoveries that change the way you see familiar things.
Economy
Online breast milk can come with an unwanted ingredient
Researchers who bought breast milk online found that some samples contained added cow's milk; other research found bacterial contamination. A seller's…
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Lotteries prey primarily on desperate people hoping to win
A lottery ticket sells a tiny chance at instant wealth, not a likely plan for getting rich. Hopeful players keep paying for the possibility even when the odds…
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Massive defense spending drastically alters national output
A factory making weapons still counts as producing goods, so its output can lift the national total. The odd part is what the country gets for that measured…
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Blackmail relies entirely on pure asymmetric information
The threat works because one person knows something damaging and the other fears everyone else finding out. The blackmailer demands a price for silence,…
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Counterfeit pesticides can poison crops and food supplies
Farmers buying a cheap counterfeit spray may not know what’s in it. Unregulated chemicals can injure the crop and leave harmful residues behind in food.
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Isaac Newton hunted counterfeiters as well as equations
As Warden of the Royal Mint, Newton collected evidence against people forging and clipping coins. His pursuit of William Chaloner ended in a conviction and…
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Why chicken nuggets come in four shapes
The four nugget shapes—bells, boots, bones, and balls—aren’t just decoration. Machines press ground chicken into them so the pieces cook consistently and are…
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Casio once made a cigarette-holding ring
After World War II, factory workers wanted to smoke without using their hands. Casio’s founder sold them a cigarette-holding ring, and the profits helped fund…
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Why royal palaces are worth keeping around
Visitors pay to tour palaces, helping offset the expense of keeping them standing. The grand rooms that once served royalty now help attract the crowds paying…
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How compulsory schooling helped end child labor
A child required to be in class during the day couldn’t be sent into a mine for that day’s shift. Compulsory attendance helped keep children out of mines…
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The Brink's-Mat gold was melted to hide where it came from
After the 1983 robbery, stolen bullion was melted and mixed with copper before resale. Changing the form and purity helped blur the link between recognizable…
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The billion-dollar bank heist that used three taxis
The order came hours before the 2003 bombing began: load a billion dollars in $100 bills into three waiting taxis. Iraq’s dictator sent his son to the Central…
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The companies that exist mainly to hide their owners
Some companies have no office, staff or physical business to point to; they exist on paper. That makes it harder to find the real people who own them.
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A lawsuit can silence a critic without ever winning
A journalist or activist can be buried in legal bills without the plaintiff ever needing to win. These defamation claims use the cost of defending a lawsuit…
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How billiard balls leap over obstacles
A jump shot comes from driving the cue ball down into the table. It rebounds off the slate and clears the obstacle; lifting the cue under the ball is not the…
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Marriage licenses are surprisingly cheap
The license may be cheap; combining finances can have much larger consequences. The small fee at the start is not the expensive part of the decision.
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Why every game now feels like a second job
A hundred-tier progress bar turns one game into a long checklist. Miss a day, and players can feel they have fallen behind the people who kept logging in—so a…
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At weddings, photographers do more than take pictures
A wedding photographer may end up calming upset guests, directing crowds and searching for missing flowers. The couple hired someone to preserve the day in…
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Why an expensive drink can mean a bigger tip
If the tip is calculated as a percentage of the bill, a more expensive drink raises the server’s tip too. The extra charge may buy no better match for your…
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The cheap chemistry behind expensive teeth whitening
A pricey light-up mouthpiece can make whitening feel like advanced technology. The peroxide does the work; the first bright look can partly come from…
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The government once controlled the raisin supply
Raisin growers didn’t get to sell every raisin they harvested: for decades, a federal committee seized a portion. Keeping some of the crop off the market was…
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Reserve requirements for domestic banks were lowered to zero
A zero reserve requirement means banks no longer have to keep a legally specified slice of deposits in reserve. It removes that particular lending constraint;…
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Why oil-rich countries can still be poor
Oil wealth can create a prize worth fighting over: control of the revenue. If that money fuels corruption and weakens government, the country can grow slowly…
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How World of Warcraft players reinvented banking
Guilds pooled players' gold in shared banks, then used it to fund raids. The virtual vault had a real job: collect contributions and distribute the money…
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