Economy
Discover facts about economy. Small discoveries that change the way you see familiar things.
Economy
Political campaigns incinerate billions for zero output
A campaign's spending can turn into another TV ad or another piece of junk mail, rather than a product someone can use. Billions can go toward influencing an…
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Vegas marketing was coined by an ad agency
The famous Vegas line was deliberately written by an ad agency in 2003. Its appeal was that it sounded like a rule gamblers had always lived by, even though…
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The Arctic seed vault still needs a freezer
Svalbard's mountain permafrost reduces the work required to cool the vault, but mechanical refrigeration keeps its seed chambers at minus 18 degrees Celsius.…
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Denmark's fat tax lasted only 15 months
Introduced in 2011, the tax charged according to saturated-fat content across foods including butter and meat. It was repealed amid complaints about…
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A slug spends energy making the road it slides on
A 1980 study found that a slug's high cost of crawling was largely attributable to producing mucus. The animal was paying for the material that connected its…
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Dice once needed stamps to prove taxes were paid
The tax had to be stamped right onto each die. That tiny official mark became valuable enough that people forged it widely.
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A lighthouse can help a ship that never paid for it
Its beam cannot readily exclude one passing vessel while guiding another. That makes it a classic example in discussions of public goods. Historically,…
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Why mail delivery loses money on remote addresses
A letter can bring in less postage than it costs to drive it to a remote address. The postal service still has to make the trip, because the delivery promise…
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Swedish parents proposed a name that looked like a keyboard accident
The rejected string Brfxxccxxmnpcccclllmmnprxvclmnckssqlbb11116 was presented as being pronounced Albin. It was part of a protest over naming rules, after the…
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Traveler checks are entirely dead cardboard
The awkward part is that traveler’s checks still exist: some banks offer them. But a cashier faced with one today may be puzzled, leaving you to explain a…
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Garbage collection functions as a natural monopoly
If several trash companies serve the same block, each may send its own truck down the same street. One provider can avoid that pileup of duplicate routes,…
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Divorce proceedings destroy immense household wealth
A divorce can turn one set of household expenses into two: two homes need support, and legal or mediation costs pile on. The money is divided, but some of it…
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Why some egg donors are paid more
Egg donors undergo a more invasive extraction than sperm donors, so they may be paid more. Some agencies also offer extra money to applicants with high SAT…
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Medieval kings forced wealthy cowards to pay scutage
A knight who would rather not serve could pay scutage, or “shield money,” to the crown. The arrangement let wealthy men buy their way out of military service…
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When soap taxes made hygiene a luxury
Britain taxed soap for well over a century before abolishing the duty in 1853. A tax on an everyday washing product raised its cost and made cleanliness…
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Why cities pay to appear in Hollywood movies
A city may pay a production to put its skyline on screen because viewers might later book a trip to see it. The bet still applies when the skyline appears…
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The wallpaper tax that made people paint patterns
Printed wallpaper drew a heavy tax in Britain, so homeowners found a way to get the pattern without buying the taxed product. They bought plain paper and…
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When a clarinet counted as a medical expense
A clarinet and music lessons could count as medical expenses if a doctor said playing a woodwind treated a child’s severe overbite. The tax question turned on…
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A fireworks show's price includes the night you never see
The visible display is only the final few minutes of selecting effects, transporting explosives, setting up launch equipment, and arranging licensed crews and…
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Zoos spend absurd fortunes keeping exotic animals alive
A polar bear in a temperate-climate zoo needs a specialized diet, and feeding it can be expensive. The zoo helps pay the bill by selling snacks like churros…
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Maine taxes wild blueberries by the pound
The state's commercial blueberry tax is 1.5 cents per pound on covered processed berries and unprocessed shipments leaving Maine. Processors or shippers…
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Why using your card abroad costs extra
Some banks take a percentage of a purchase made abroad, turning a routine card payment into an extra fee simply because you used the card in another country.
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Why people bricked up fireplaces to avoid taxes
Officials treated each hearth as a clue to a family’s wealth, so some households bricked up fireplaces to shrink their tax bill. They gave up a source of heat…
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Why British royals cost taxpayers millions
The Sovereign Grant pays for the monarchy’s official work, from palace upkeep to pageantry. Those duties and buildings are funded with public money, which is…
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