Economy
Discover facts about economy. Small discoveries that change the way you see familiar things.
Economy
North Korea literally ordered one thousand luxury Volvo sedans from Sweden in the 1970s and then just completely ghosted them on the invoice after the cars were successfully delivered.
North Korea literally ordered one thousand luxury Volvo sedans from Sweden in the 1970s and then just completely ghosted them on the invoice after the cars…
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A Japanese gift's wrapping can carry part of the message.
A Japanese gift's wrapping can carry part of the message. Traditions such as furoshiki cloth wrapping make presentation part of the act of giving. The…
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Diaper indicator is an incredibly bleak retail metric noting that sales of larger sized diapers drop significantly right before a major economic recession hits.
Diaper indicator is an incredibly bleak retail metric noting that sales of larger sized diapers drop significantly right before a major economic recession…
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The United States bought Alaska for roughly two cents an acre.
The United States bought Alaska for roughly two cents an acre. The 1867 deal transferred the territory from Russia for $7.2 million. Distance, defense costs,…
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50 Cent took a stake in Vitaminwater—and the exit was worth a fortune.
50 Cent took a stake in Vitaminwater—and the exit was worth a fortune. He received equity for promoting the drink, making him an owner rather than simply a…
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Retail corporations refer to the massive economic loss from shoplifting, employee theft, and administrative errors as shrinkage, a harmless-sounding term that actually costs the…
Retail corporations refer to the massive economic loss from shoplifting, employee theft, and administrative errors as shrinkage, a harmless-sounding term that…
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Spirit Airlines aggressively revolutionized the aviation economy by actively making the flight experience as miserable as legally possible, unbundling every single basic amenity…
Spirit Airlines aggressively revolutionized the aviation economy by actively making the flight experience as miserable as legally possible, unbundling every…
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Ireland's GDP jumped without households getting a quarter richer.
Ireland's GDP jumped without households getting a quarter richer. The initially reported 26.3% growth for 2015 reflected major changes involving multinational…
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Red Bull built a spectacle far larger than its can.
Red Bull built a spectacle far larger than its can. Sports teams, events, and media give audiences reasons to encounter the brand when they are not shopping…
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Costa Rica turned a military barracks into its national museum.
Costa Rica turned a military barracks into its national museum. José Figueres marked the army's abolition at Bellavista barracks in 1948, and the 1949…
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An influencer's crowd can be bought without buying an audience.
An influencer's crowd can be bought without buying an audience. Fake followers and automated engagement inflate the numbers that advertisers use to judge…
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Quadriga's collapse involved fake balances, not just a lost password.
Quadriga's collapse involved fake balances, not just a lost password. Canadian securities investigators found that CEO Gerald Cotten used accounts credited…
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Kuwait’s Souk Al-Manakh stock boom ran on checks dated for the future.
Kuwait’s Souk Al-Manakh stock boom ran on checks dated for the future. Traders bought speculative shares with promises to pay later, allowing commitments to…
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Sweden's cash debate asks who gets left out of convenience.
Sweden's cash debate asks who gets left out of convenience. When shops and services favor digital payments, a phone or payment card becomes part of ordinary…
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New Zealand turned wage disputes into a court's business.
New Zealand turned wage disputes into a court's business. Its 1894 arbitration law created a system for settling industrial disputes and setting employment…
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A Roman soldier's retirement could bring a major cash payout.
A Roman soldier's retirement could bring a major cash payout. Citizen soldiers completing service could receive a sum worth years of wages. The British Museum…
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United States currency is not actually made out of paper at all, but rather a durable fabric blend consisting of seventy-five percent cotton and twenty-five percent linen.
United States currency is not actually made out of paper at all, but rather a durable fabric blend consisting of seventy-five percent cotton and twenty-five…
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An ocean-trash campaign invented passports and its own money.
An ocean-trash campaign invented passports and its own money. The 2017 Trash Isles campaign imagined plastic pollution as a country to make the problem harder…
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In Vanuatu, a pig's curved tusks can embody years of wealth.
In Vanuatu, a pig's curved tusks can embody years of wealth. In some northern communities, specially tended pigs develop tusks that curl into complete circles…
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A woman's income once wasn't enough to secure credit in her own name.
A woman's income once wasn't enough to secure credit in her own name. Before the 1974 Equal Credit Opportunity Act, U.S. lenders could discriminate based on…
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President Franklin Roosevelt explicitly established the federal minimum wage during the Great Depression to guarantee that any working adult in the country could afford a decent…
President Franklin Roosevelt explicitly established the federal minimum wage during the Great Depression to guarantee that any working adult in the country…
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During the height of the 2008 financial crisis, you could literally buy a house in Detroit for less than the price of a used pair of designer shoes, with some properties selling for a single dollar.
During the height of the 2008 financial crisis, you could literally buy a house in Detroit for less than the price of a used pair of designer shoes, with some…
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Empty homes and homelessness can exist on the same street.
Empty homes and homelessness can exist on the same street. A vacant dwelling is a housing unit without occupants, not necessarily one available to someone who…
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A cashmere sweater has a grassland footprint.
A cashmere sweater has a grassland footprint. Mongolia's goat population rose from about 4.4 million in 1988 to 20 million in 2008 as livestock ownership…
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