Economy
Discover facts about economy. Small discoveries that change the way you see familiar things.
Economy
The nuns who insured the next Messiah
The policy covered an oddly specific possibility: a nun giving birth to the Messiah. It was meant to insure the cost of raising the child, should that happen.
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Why some British pubs insure themselves against ghosts
Some British pubs can buy insurance for damage or lost revenue attributed to ghosts. The policy turns a haunting from a spooky story into something the owner…
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How military uniforms keep wool farms afloat
When the military requires uniforms made from domestic materials, its orders create a reliable buyer for wool. Sheep farmers get demand from uniforms that…
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How plastic seats helped Subaru dodge a huge tariff
Two plastic seats in an open truck bed helped Subaru avoid a 25% import penalty. The BRAT could be classified as a passenger vehicle rather than a light…
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When jaywalking fines become a city’s cash cow
A budget gap can turn jaywalking tickets into a cash source for a city. Enforcement ramps up, and pedestrians who cross illegally help fill the shortfall one…
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Wedding insurance can protect the money before the celebration exists
Deposits may already be paid when a venue closes or another covered event forces cancellation. The policy concerns those financial losses and specified risks,…
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Marriage could make a husband responsible for his bride's old debts
Under the English common-law system described by Blackstone, a woman's legal identity was largely folded into her husband's during marriage. That included…
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A student loan's fate after death depends on its rules
U.S. federal student loans can be discharged when the borrower dies, while private-loan protections vary by contract and applicable law. That difference…
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Alimony payments unlock distinct tax deductions
Under some older tax rules, the person paying alimony could deduct it while the ex-spouse receiving it had to report it as income. The deduction moved the tax…
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Ford's disappearing van seats ended in a $365 million settlement
US officials alleged that Ford imported cargo vans with temporary rear seats to qualify for a 2.5% passenger-vehicle tariff instead of the 25% cargo rate,…
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A tea blender's taste buds were insured for £1 million
Tetley announced the policy for Sebastian Michaelis in 2014. His work involved judging leaves and brewed tea to help keep blends consistent despite…
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Even scissors get split into different categories at customs
The US tariff schedule separates scissors by value and distinguishes certain pinking shears from other types. A familiar household object can therefore…
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Your overdue library book can help fix potholes
In some cities, the fine for keeping a library book past its due date goes into the municipal budget. That money can help pay for things like road repairs and…
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Some people insured their mustaches against fire
For people who treated a mustache as part of their identity, even a stray flame or an accidental trim could put something valuable at risk. Some insured their…
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Parents can insure themselves against surprise twins
The policy is a bet on a surprise scan: buy coverage early in pregnancy, and a later ultrasound showing twins or triplets triggers a lump-sum payment to help…
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New York taxes sliced bagels as prepared meals
New York draws the tax line at the cutting board: a whole bagel is tax-exempt, but slice it or add cream cheese and it counts as a prepared meal. The same…
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Why a little flour can change how Twix is taxed
A little flour can change which tax bucket a chocolate bar lands in. In some places, products such as Twix or KitKat may count as groceries, while a solid…
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When comedy clubs insured against dying of laughter
Some early-20th-century comedy clubs bought insurance against patrons dying from laughter. The coverage was often a publicity stunt: the risk itself was part…
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Child tax breaks once rewarded huge families
A larger family could qualify for larger child tax exemptions, so the tax break grew with the number of children. Governments viewed those children as future…
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You can insure yourself against alien abduction
Some alien-abduction policies make you prove the visit with a signature from the ship’s captain. You can buy the policy; getting the alien to complete the…
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The IRS treats ostriches like farm equipment
For tax purposes, farmers can depreciate breeding ostriches over time, just as they do farm equipment. The bird gets written off gradually on the books.
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When owing money meant going to prison
Victorian authorities jailed debtors to make them repay. But prison also stopped them from earning, so a person could be locked away for owing money and lose…
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The tax on dice that annoyed colonial America
The Stamp Act didn’t stop at documents: it also required a tax stamp on every pair of dice sold in the colonies. Even a game of chance came with a government…
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The medieval penny that funded Rome
The payment was tiny at the household level: one penny a year. Collected from households across England, those pennies helped fund the church in Rome.
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