When Venezuela’s inflation rate entered the stratosphere, it created chaos that shifted the rhythm and rationality of daily life.
Cows don’t like the switch to daylight saving time. A California organic dairy farmer said he enjoys the extra hour of light that starts in March. But his cows don’t. Because they are accustomed to a 2:00 a.m. milking regimen,…
The World Bank’s Doing Business Index ranks 190 economies to show where the business climate is sunny or stormy because of regulatory policy.
The introduction of just one small MetroCard transformed NYC by lowering the transaction costs for traveling to work and friends in different boroughs.
Just like having the same weights and measures and money, when we all standardize our time with a soon-to-be-added leap second, our transaction costs drop.
By ignoring the sun through fewer time zones, we coordinate national and international time and create more economic efficiency.
Praised by some for its disease classification detail, others believe ICD-10 will create massive transaction costs for healthcare providers.