Economy
Discover facts about economy. Small discoveries that change the way you see familiar things.
Economy
Why Tour de France teams pay to race
Pedaling a bicycle up a massive mountain range for three weeks sounds like torture, yet professional cycling squads pay vast sums for the privilege. Entry…
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Why class-action payouts can be worth pennies
Joining a massive lawsuit against a giant corporation feels like striking back at the system, until the settlement check arrives. When the dust settles on a…
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Why Bobby Bonilla gets paid by the Mets every July
In a legendary display of short-sighted sports management, a major baseball team decided to defer a massive contract buyout rather than pay it upfront. They…
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How charity wristbands turn pennies into dollars
Showing the world that you support a noble cause used to require a simple ribbon, but a massive trend revolutionized the charity space. The introduction of…
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When singing Happy Birthday required a license
Singing a simple celebratory tune at a restaurant used to legally require cutting a check to a massive corporate conglomerate. For decades, Warner Chappell…
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Fake degrees are a lucrative business
Why spend four grueling years studying when you can just purchase an impressive piece of parchment online? A shadowy network of unaccredited institutions…
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Some televangelists raise millions for private jets
Commercial flights are apparently far too crowded with ordinary sinners for modern spiritual leaders. Certain charismatic televangelists launch massive…
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Why death sentences cost more than life in prison
Those demanding the ultimate penalty to save state resources clearly have no grasp of legal accounting. The endless appeals process, specialized solitary…
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Why TV shows once needed 100 episodes
Television shows historically cared about one arbitrary numerical milestone more than actual critical acclaim. Reaching the hundred-episode mark was the…
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How boxing promoters could take a fighter's earnings
Stepping into the ring with a heavyweight champion was entirely less dangerous than stepping into a boardroom with a notorious boxing promoter. Fighters…
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Why diners need a license to play music
Turning on a radio in a public establishment without paying the piper is a surefire way to invite a massive lawsuit. Performance rights organizations deploy…
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Bail bondsmen keep their fee—even if you’re acquitted
The presumption of innocence is a nice concept, but escaping pretrial detention requires non-refundable capital. When individuals cannot afford their full…
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College social life behind a paywall
Building a vibrant social network on a college campus is easy, provided you can afford the exorbitant entry fees. Fraternities and sororities demand massive…
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Green Bay Packers stock is not really stock
Owning a piece of your favorite professional sports franchise is a thrilling concept, until you read the fine print. When this beloved football team…
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Walmart makes more than a billion dollars every day
If you want to understand the sheer scale of modern retail dominance, look no further than the blue vests. The Walton family empire pulls in over a billion…
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Goldman Sachs once asked whether cures are good business
The mask of pharmaceutical altruism slipped beautifully in a 2018 Goldman Sachs biotech research report. Financial analysts openly pondered whether providing…
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Why lottery winners often lose their fortunes
Winning the lottery is just a really fast track to ruining your life with extra steps. Despite securing millions in instant cash, studies estimate that up to…
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Loud and flashy things unfairly steal attention
Saliency bias ensures that we focus on the loudest, flashiest details rather than the actual important data. A brilliant but boring strategy will always lose…
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Owning adorable pets heavily drains resources
You might love your furry companion, but from a purely rational viewpoint, pets are tiny resource black holes. Between endless veterinary bills and daily…
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Endless corporate meetings drain human souls
Bringing ten people into a room to discuss a trivial issue costs the company thousands in wasted hourly rates. Most corporate gatherings could easily be an…
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Delaying important tasks provides a temporary high
Delaying an urgent duty triggers a bizarre rush of temporary relief, masking the inevitable panic that will follow. Procrastination is essentially borrowing…
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Why cooperation can turn into betrayal
In a classic psychological dilemma, two people would benefit most by cooperating, but paranoia usually drives them to betray each other instead. This dynamic…
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Unfair treatment immediately breeds deep resentment
Inequity aversion means that finding out a lazy coworker gets treated better than you will instantly destroy your motivation. Humans possess a deep, primal…
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Why a small share of effort produces most results
The Pareto principle suggests that a tiny fraction of your effort drives almost all of your actual results. This means the vast majority of your typical…
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