Its all over the internet. The Asian office of Barclays is out with a report on the worldwide skyscraper boom and the looming implications for the global economy. The current boom does not have a true record-setting skyscraper under construction but the sheer volume of super high buildings and their locations (mostly China, India, the Middle East, and even in Europe) means it is something to definitely keep an eye on. The current global crisis was correctly signaled by the last record skyscraper in the summer of 2007. The Euro crisis also got a signal.
China, India skyscraper boom may herald downturn
Skyscraper boom heralds economic downfall: Barclays
Also see my article on Skyscrapers and Business Cycles in the Quarterly Journal of Austrian Economics which provides the theory and history of the “curse.”
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the Dubai skyscraper boom is another perfect example of the skyscraper business cycle link. The tallest building in the world was finally built and it has vacancies. There are plenty of other skyscrapers just around it recently built and they too have many vacancies. The Dubai Islands project can be considered part of the skyscraper boom and is now halted due to Dubai’s surging debt and its running out of cheap credit. Tons of new construction has been halted and unfinished projects are tarnishing in the hot Dubai sun…global cheap credit fuelled this as the industry collapsed during the 08 crash. Too much office space and too many buildings that are not worth what they claim it is. Perfect example of artificial cheap credit producing malinvestments. Furthermore, many of the projects were undertaken by Dubai state owned construction companies. They don’t have to liquidate or go bankrupt because they are government owned so the costs are externalized….
Skyscrapers are built for ego reasons, not economic reasons. Seems to me the most economical large city building would be a geodesic dome with maybe a half city block radius. Residential units could be along the perimeter with businesses, public facilities, and shopping areas mostly in the interior. If the foundation/basement was also spherical section with a depth of maybe a quarter of the height and contained heavy machinery, a water reservoir, and such it would be almost earthquake proof. The low center of gravity would keep the building vertical while the ground rotated around it.
Then its seriously time to get O’neill island 3 space colonies around all
the Lagrange points ; )
Actually, the most economical building is definitely the pyramid. Buckminster Fuller wasn’t thinking in terms of gravity when he tried to improve on this design. Maybe if you are building space skyscrapers you would be able to enjoy Bucky’s same desire to make the triangle spherical. Then of course in space there is no sky to scrape. What’s an ego to do? I will give you one guess.
Don’t forget the Olympics curse while we’re at it. So many places that have hosted it, have gone to hell a matter of years later.
Unless something has changed (very possible), construction on the next record-setter — the Kingdom Tower — begins this month.
When the skyscrapers scrape the sky the dead flakes of material delusion are pulled to the earth by the law of gravity (the gravity of the consequences of violating the economic laws of laissez-faire).
1997 Petronas Towers in Malaysia when the Asian Credit Crisis began.
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