Economics

On September 18, 1873, an investment bank owned by Jay Cooke, who financed the construction of the Northern Pacific Railway, went bankrupt, sparking a multiyear financial crisis.

How One Robber Baron's Gamble on Railroads Brought Down His Bank and Plunged the U.S. Into the First Great Depression

In 1873, greed, speculation and overinvestment in railroads sparked a financial crisis that sank the U.S. into more than five years of misery

An advertisement for California citrus, circa 1920

When California and Florida Attracted Settlers With Promises of a Perfect Climate

Today, they rank at the top of lists of U.S. states most at risk from climate change

The tanks used for storing treated water at the Fukushima Daiichi Nuclear Power Plant in Japan are almost at capacity.

Japan Begins Release of Treated Nuclear Wastewater Into the Pacific Ocean

Twelve years after the Fukushima Daiichi nuclear disaster, the move is a polarizing step toward decommissioning the defunct power plant

This triptych by Francis Bacon is listed as being owned by Roman Abramovich in the new database.

Ukraine Launches Database to Track Art Owned by Sanctioned Russians

The searchable list contains some 300 works by the likes of Pablo Picasso, Leonardo da Vinci and more

Vienna earned top marks for its stability, education, health care and infrastructure.

Vienna Is the Most Livable City in the World

The city also topped the Economist Intelligence Unit's annual rankings in 2018, 2019 and 2022

In January 1923, a dollar cost 17,000 marks. In December, the exchange rate topped out at 4.2 trillion marks to the dollar.

How Hyperinflation Heralded the Fall of German Democracy

In 1923, the collapse of the Weimar Republic's economy impoverished millions and gave Adolf Hitler his first chance at seizing power

Americans will have a few extra days to file their taxes this year.

Why Is Tax Day in April?

These are the reasons behind the timing of many Americans' least favorite holiday

This Andy Warhol portrait of Marilyn Monroe, which brought in $195 million, was one of many high-profile sales last year. 

The Art Market Is Rebounding—but Only at the Top

Sales increased in 2022, but growth was concentrated largely at the high end of the market

In partnership with the Choctaw Nation, country music star Reba McEntire has opened a dining and entertainment venue in Atoka, Oklahoma, hoping to revitalize the town's economy.

Country Star Reba McEntire Wants to Revitalize a Small Town in Oklahoma

Atoka is now home to Reba's Place, a restaurant that has already attracted half a million guests

The aurora borealis, or Northern Lights, over a lake in eastern central Finland

You Can Apply for Free 'Masterclass of Happiness' in Finland

For the fifth year in a row, Finland ranked as the happiest nation in the world

Aerial view of Apple's California headquarters

How California Took Over the World

A sweeping book offers a provocative new history arguing that today's inequality can be traced back to the state's founding

L to R: Andrew Carnegie, Elizabeth I, Henry VIII and Henry Ford

The Tudor Roots of Modern Billionaires' Philanthropy

The debate over how to manage the wealthy's fortunes after their deaths traces its roots to Henry VIII and Elizabeth I

An adult spotted lanternfly

People Are ‘Hunting’ Invasive Spotted Lanternflies—and You Should, Too

Officials urge the public to squish the bugs, which are damaging crops and trees in the eastern U.S.

 Online inflation calculators are only as good as the Consumer Price Index (CPI). “They’re as accurate as we can make them,” says economist Joe Mahon.

What Online Inflation Calculators Can—and Can't—Tell Us About the Past

Most of these tools are based on the Consumer Price Index, a measure of changing prices in the U.S. over time

A typical Making the Road trip to South Africa includes a visit to Soweto, a township outside of Johannesburg that was the site of anti-apartheid organizing and violence for years.

Tourism Gets a Refresh in the Hands of Activists Seeking to Decolonize the Industry

Operators practicing 'solidarity tourism' push back against travel that can be environmentally and socially destructive

Radiocarbon dating suggests the workshop began minting operations between 640 and 550 B.C.E.

World's Oldest Known Coin Mint Found in China

The 2,600-year-old site produced highly standardized "spade money," possibly on government orders

The trove included around silver coins, jewelry, and other artifacts.

Amateur Metal-Detectorist Finds Viking 'Piggy Bank' Filled With 1,000-Year-Old Silver Coins

Unearthed on the Isle of Man, experts suspect Vikings most likely added money to the stash over time

A silver shilling recently found at the former site of St. Mary's Fort, one of the first colonial settlements in British North America

Rare 17th-Century Coin Featuring Charles I's Likeness Found in Maryland

Archaeologists found a telltale silver shilling at the likely site of St. Mary's Fort, a 1634 structure built by early English colonists

Some facets of the 1918 influenza pandemic echo today's crisis: There were mask mandates, campaigns against spitting and pleas for people to cover their mouths, and more than half a million Americans died. The decade that followed the pandemic, however, was marked by social change and economic prosperity—for some.

What Caused the Roaring Twenties? Not the End of a Pandemic (Probably)

As the U.S. anticipates a vaccinated summer, historians say measuring the impact of the 1918 influenza on the uproarious decade that followed is tricky

The cache of jewelry likely dates to around 950 A.D.

Amateur Treasure Hunter Finds Trove of 1,000-Year-Old Viking Jewelry

Buried on the Isle of Man around 950 A.D., the artifacts include a gold arm ring and a silver brooch

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