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Source link: http://archive.mises.org/8423/skyscrapers-and-business-cycles/

Skyscrapers and Business Cycles

August 22, 2008 by

Building the world’s tallest building, writes Mark Thornton, has been a matter of particularly bad timing by entrepreneurs and even if they were able to successfully steal away enough tenants from the remaining pool of renters, the economic problem for society is that valuable resources are lost in the process of constructing buildings that are bad investments and underutilized. However, it is not the entrepreneur’s formula that is at fault, but a system-wide failure that has occurred periodically throughout the 20th century and before, known as the business cycle. FULL ARTICLE

{ 5 comments }

Fephisto August 22, 2008 at 5:53 pm

Great, now we’ll have politicians (because their sense of logic is fantastic) saying we need to build bigger skyscrapers in order to improve our economy.

billwald August 22, 2008 at 6:53 pm

How about a comparison of buildings and dress hems? Hem height was the old predictor.

newson August 23, 2008 at 12:32 am

women wear pants. end of hem-indicator.

Aragon August 23, 2008 at 2:30 pm

Isn’t that a beautiful sign of “irrational exuberance” in the skyscraper building industry?

http://www.telegraph.co.uk/news/worldnews/middleeast/dubai/2191592/World's-first-rotating-skyscraper-unveiled-in-Dubai.html

Peter August 24, 2008 at 12:18 am

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