Economy
Discover facts about economy. Small discoveries that change the way you see familiar things.
Economy
Why artists sometimes split songwriting credits
In the music industry, simply being in the room when a song is recorded is apparently grounds to demand a paycheck. It's an open secret that major artists…
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Why adjunct professors can earn less than minimum wage
You are paying $60,000 a year in tuition so your child can be taught by someone living below the poverty line. Universities increasingly rely on…
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T-Mobile claims ownership of a shade of magenta
Imagine waking up and deciding you own a color on the visible light spectrum. T-Mobile’s parent company, Deutsche Telekom, holds a trademark on the specific…
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Why your neighbor might legally cross your property
You might own the land, but you don't necessarily control who gets to walk on it. An 'easement' is a terrifying real estate quirk where someone else holds a…
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Some people build houses purely out of spite
Never underestimate the economic power of pure, unadulterated petty vengeance. Throughout history, property owners have constructed 'spite houses'—bizarrely…
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Why harpists get paid extra to move their instruments
Playing the flute is easy on the back, but playing the harp requires an industrial moving crew. In the classical music economy, professional musicians…
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Why talent alone may not get you into Formula One
Being the fastest driver in the world means nothing if your dad isn't a billionaire. In the elite motorsport of Formula 1, half the grid doesn't get there…
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Why a sandwich maker once needed a noncompete
Protecting corporate trade secrets makes sense for a software engineer, but it is utter madness for a sandwich artist. Corporations routinely abuse…
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Zippo owns a trademark on the click of its lighter
If you thought you could just open a piece of metal without paying royalties, think again. Zippo successfully secured a sound trademark for the distinct…
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How re-recording an album can sideline its original masters
If a corporation buys the rights to your voice and won't sell them back, the pettiest economic move is to just clone yourself. Artists lock down 'master…
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Why a red dot can make a painting seem more valuable
The true masterpiece in any high-end art gallery is the psychological manipulation of wealthy people. Galleries notoriously place tiny red stickers next to…
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Stubborn homeowners stall massive building projects for years
A multibillion-dollar commercial complex can be brought to its knees by one elderly person who really likes their porch. 'Nail houses' are properties where…
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How an HOA can put your home at risk
Welcome to the suburbs, where your neighbor with a clipboard has more power than the government. Homeowners Associations (HOAs) collect dues to manage…
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Why a $100 million NFL contract may pay far less
Signing a $100 million NFL contract doesn't mean you're actually getting $100 million. Unlike baseball or basketball, many football contracts are…
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Why touring bands lose up to 30% of merch sales
Imagine showing up to your job, selling your own handmade crafts, and your boss demanding a quarter of the cash just because you stood in their building.…
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The SAT and ACT companies profit from student anxiety
Getting into college is stressful enough without having to pay a shadowy non-profit just to prove you can do math. The organizations that administer the SAT,…
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Velcro made a music video to save its name
When your product becomes so popular that people forget its actual name, you’re in a legal nightmare known as 'genericide.' The Velcro companies realized…
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How record labels take a cut of an artist's whole career
Why stop at exploiting an artist's music when you can exploit their physical existence, too? The '360 deal' is a modern music contract where labels don't just…
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The ground beneath your house may belong to someone else
You might proudly own the house and the grass, but the dirt 500 feet below you could belong to a massive corporation. In many areas, surface rights and…
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College mascots are protected by fierce trademark laws
A university is fundamentally an educational institution, until someone tries to print an unauthorized t-shirt of their mascot, at which point they become a…
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The Ikea bookshelf that tracks the global economy
The humble particle-board bookshelf you struggled to assemble in your twenties is secretly a masterclass in global economics. Bloomberg created the Billy…
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How long it would take Bill Gates to spend $1 million a day
Wealth inequality reaches an entirely comical level when spending an astronomical fortune requires multiple lifetimes of aggressive shopping. If Bill Gates…
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Why scorpion venom costs millions per gallon
Liquid gold is a cute metaphor until you realize you could buy an entire private island for the price of one gallon of bug juice. Deathstalker scorpion venom…
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The bank that has survived since 1472
If you want to witness pure institutional stubbornness, look at the bank that survived the Renaissance, multiple plagues, and both World Wars. Founded in 1472…
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