Economy
Discover facts about economy. Small discoveries that change the way you see familiar things.
Economy
Why an economist petitioned to block out the sun
If you want to see a masterclass in economic trolling, look no further than 1845. Bastiat wrote a satirical petition on behalf of candlemakers demanding that…
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Wire transfers are legally irreversible once accepted
Unlike polite credit card networks that let you dispute a fraudulent charge for months, wire transfers are absolute and ruthless. The second the receiving…
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Why a store can refuse your coins
That handful of sweaty nickels is completely powerless if a cashier is annoyed enough. While it is legal tender for all debts, private entities possess the…
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Freelance contracts completely erase worker stability
Shifting the workforce strictly to temporary task-based assignments completely isolates individuals from collective benefits. It is beautifully pitched as…
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Why left-handed guitars cost so much more
Being left-handed in the musical world comes with a steep financial penalty. Because manufacturers produce them in such limited quantities, left-handed…
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How cartels launder money through mobile games
Criminal syndicates don't just use fake casinos anymore; they use your little cousin's favorite battle royale. Drug cartels load stolen or illicit cash onto…
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Family money transfers outpace foreign aid
Forget diplomatic foreign aid; the real global safety net is familial guilt. Migrant workers send hundreds of billions of dollars back to their home countries…
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Why dividends don't make a company richer
Handing out cash directly to shareholders seems wonderful until you do the math. The underlying corporation merely drops its net worth by the exact same…
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Why a raise can lead to softer toilet paper
Getting a significant raise at work rarely changes your actual lifestyle; it just means you start buying the mildly less abrasive toilet paper. The income…
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Why a private autopsy can cost a fortune
Finding out exactly how someone died is considered a bizarre optional luxury. Unless there's active foul play suspected by authorities, hiring an independent…
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Apple's third co-founder sold his stake for $800
Ronald Wayne got cold feet because he didn't want to be financially liable for Steve Jobs' debts. Today, that stake would be worth hundreds of billions. He…
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Minority game rewards those who avoid the popular consensus
The ultimate anti-hipster mathematics. Players must independently choose one of two options, and only those who pick the least popular side receive a reward.…
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Apple can hold more cash than the U.S. Treasury
If you ever feel broke, just remember a phone company has more fiscal stability than the so-called leader of the free world. Due to endless deficit spending,…
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How minor-league teams survive with absurd mascots
Nobody is actually paying attention to the minor leagues for the athletic prowess. These regional teams survive financially by leaning into sheer absurdity,…
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Seasonal firework stands clear their annual revenue in weeks
Those sketchy tents popping up in vacant parking lots in late June aren't struggling small businesses; they are cash-printing machines. The pyrotechnic retail…
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Why walking away from a street performer feels awkward
The guy juggling flaming torches in the plaza isn't doing it just for the love of the arts. They purposefully trap you in a massive crowd, explicitly…
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Working nights slowly destroys your sleep schedule
Shift work essentially forces your body to live in a perpetual state of jet lag without the vacation. The physical and mental toll of working aggressively…
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You can hire someone to apologize for you
For those too cowardly to face the consequences of their own actions, specialized agencies exist to dispatch a professionally dressed proxy to bow, cry, and…
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The eye on the dollar bill has a different story
Despite what late-night internet conspiracy theorists passionately yell, the floating eye atop the pyramid has zero connections to secret world orders. It is…
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Why toothpaste becomes currency in prison
If you want to witness supply and demand at its most brutal, restrict how much toothpaste a person can buy in a month. Strict spending limits on prison…
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Why pacemakers must be removed before cremation
Intense furnace heat causes securely sealed medical devices to violently turn into dangerous shrapnel. Morticians are strictly required to surgically remove…
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Unpredictable chaotic events completely shatter forecasts
Black swan events are massive, completely unpredictable occurrences that wipe out years of careful modeling in seconds. They prove that our elaborate…
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Why a new game disc still needs a huge download
Bringing a brand new physical disc home from the store now requires waiting for a fifty gigabyte download before you are legally allowed to press start.
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The South African basin that supplied half the world's gold
Talk about a massive geographical monopoly. The Witwatersrand Basin in South Africa is basically the earth's greatest geological jackpot. Since its discovery…
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