economics

Single Vending Machine Replaces Last Shop In English Town

So clever, so depressing: the English town of Clifton, having dwindled in economic strength over the years, has responded to the loss of its last place to shop with a giant vending machine. The so-called Speedy Shop — really, an oversized, building-shaped machine standing alone in a dreary parking lot — is meant to help bring some economic life back to the town.


Incredible New Trading Software Only Lost Money One Day In Four Years

If you think the stock market can be a gamble, you’d now be wrong. The latest trading software developed by Virtu — a company specialising in high-frequency trading — has had only one day of loss in the past four years.


Cost Of Living In Sydney Is Now Higher Than Tokyo

Legendarily unaffordable Tokyo is no longer the priciest metropolis in the world — it has been supplanted by another, far more inaccessible city. Want to take a guess who it is? It’s not New York. It’s not San Francisco. The world’s most expensive city is…


How Data From Three US Rating Agencies Control The World's Economy

Is it governments that control the economy? Banks, perhaps? Or maybe even the people? Nope, in fact, it’s rating agencies — and the there are three in the US that practically control the world economy.


Bitcoin Fragmentation Is Getting Out Of Hand

You probably won’t be surprised one bit to learn there’s a new Bitcoin competitor out there. A group of cryptographers just announced the creation of Zerocoin, an ultra-anonymous cryptocurrency that’s otherwise a lot like the dozens of other newly launched cryptocurrencies.


Why The Swiss Evacuate Their Cows By Helicopter

At first, it’s kind of charming. Look how well the Swiss treat their cows! A helicopter is dispatched just to carry an injured bovine stuck in the mountains! It’s not an uncommon sight in the Alps, either: in Switzerland, insurance that covers helicopter evacuation for your family also includes your cows.


Memory Chips Are The Most Expensive They've Been In Two Years

Manufacturers and consumers alike better brace themselves: memory chip prices have hit a two-year high because of a major fire in a massive Chinese production plant.


Is Amazon Art A Ripoff?

It’s been more than a week since Amazon launched Amazon Art, a marketplace for fine art where online shoppers can one-click-buy directly from galleries. And while it’s great to imagine disrupting one of the wackiest, most unregulated markets in the world, the question remains: Just how good of a deal are you getting on that $US1.4 million Warhol painting?


Do China's New Skyscrapers Really Signal An Economic Downturn?

Skyscrapers have been symbols of economic plenitude since Daniel Burnham, the architect behind some of the earliest tall buildings, said “Make no little plans; they have no magic to stir men’s blood.” But is it possible that tall buildings also precipitate crashes? According to one analyst, yes — and China, in particular, is heading for a bust.


Thank A Simple Excel Glitch For Austerity Economics

You know the much-ballyhooed theory that high national debt correlates to crappy economic growth? The one that’s trotted out on a regular basis by politicians arguing for austerity budgets and sequestration? Well, according to new findings, the study that austerity proponents cite more than any other is based on an Excel error. A big one.