Economy
Discover facts about economy. Small discoveries that change the way you see familiar things.
Economy
Why 30 seconds of Super Bowl ads cost millions
Millions of viewers are watching the same game at once, and advertisers can’t skip past them in the stadium. That audience lets networks charge up to $7…
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Why international adoption can cost so much
Before a child comes home, prospective parents may pay for a home study, foreign legal translations, and agency processing. The stack of separate fees can…
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Why vertical farms can cost ten times more
A vertical farm has to power the sunlight its warehouse cannot get from the sky. Add climate control, and operating costs can push its produce to ten times…
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Why borrowed tools make people more reckless
When your own tool breaks, you lose money. When a borrowed one breaks, the owner does. That split can make people take risks with someone else’s equipment…
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Marginal propensity dictates your odds of spending more
When someone’s income rises, the marginal propensity to consume tells you how much of the increase they spend rather than save. That helps explain why extra…
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Why businesses pay for prestigious old area codes
Some businesses pay a premium just to put a prestigious city area code on their phone number. When the phone company can’t assign that code through normal…
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A wealth chart counts the house—and subtracts the mortgage
Net wealth is assets minus debts, not a person's annual paycheck. That is why a high earner with large loans can rank below someone with a modest income and a…
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Governments restrict trade heavily to protect local firms
Foreign goods can be kept out to protect domestic businesses. That shield can benefit local firms even when they’re less efficient than the competitors…
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A sheet of edible gold can cost less than chewing gum
Gold leaf is beaten until a sheet contains so little metal that its gold can be worth only pennies. The fancy-looking decoration can cost less than the gum…
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Some countries count black-market crime in GDP
Italy, Spain, and the UK estimate illegal sales such as drugs and sex work when calculating GDP. The transactions still count in the national total, even…
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Bank drafts guarantee funds by holding them upfront
When a bank issues a draft, it takes the money from your account upfront. The recipient can deposit it without depending on how much is left in your account…
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International authorities created a synthetic reserve asset
Instead of being pegged to one national currency, the IMF’s Special Drawing Right gets its value from a basket of major currencies. The IMF created it as a…
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How overnight bank loans set a key interest rate
Banks sometimes need cash overnight to meet regulatory requirements, so they borrow from one another until morning. The rate they pay helps set benchmarks…
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Why renting a wedding tent can cost as much as buying one
The rental bill can climb once delivery and setup are added, sometimes approaching the cost of buying the tent. Renting mainly saves you the job of storing it…
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Miss a car payment and the next start may be blocked
Some subprime lenders install GPS trackers and remote starter-interrupt devices. If a payment goes overdue, the lender can disable the car—turning a missed…
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When money looked like tiny bronze knives
Ancient Chinese states used bronze money shaped like knives and spades. Recognizable tool forms became standardized objects for exchange rather than ordinary…
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Britain once had a 98% top rate on investment income
In the 1970s, an investment-income surcharge could bring the highest marginal rate to 98%. That applied to income above the relevant thresholds, not every…
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Adding more cooks to a kitchen eventually slows down cooking
In a cramped kitchen, every extra cook needs room to move. Eventually cooks start bumping into one another, so adding workers creates a traffic jam instead of…
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Volvo let its rivals use its three-point seatbelt patent
Volvo could have kept its three-point seatbelt design to itself. Instead, it let other automakers use the patent, giving up exclusive control so the safety…
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Why rare tarantulas can cost a fortune
Some collectors will pay a fortune for a vividly colored tarantula. Its unusual looks and rarity create a niche market in which the spider itself is the…
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Netflix's subscription removed the DVD's return deadline
Netflix initially rented and sold DVDs individually, then introduced a subscription in 1999 with no due dates or late fees. Keeping a disc longer didn't…
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What a bounced payment leaves in bank records
A payment can fail and still leave a mark: the recipient’s records may show that the sender’s account lacked enough money. The bank may also add a fee to the…
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Universal Product Codes track every retail item globally
A barcode lets a cashier and retailer identify the same product without guessing from its name or appearance. A nonprofit assigns each product its own…
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A penny can cost more to make than it's worth
Minting a coin requires metal, manufacturing, and distribution even when its face value is just one cent. Once those costs exceed a cent, issuing the coin…
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