Description

Mark Thornton returns to the podcast to discuss his new book The Skyscraper Curse (available digitally for free). The book discusses the connection between record-setting skyscrapers and economic recessions. Here’s an excerpt from the book’s introduction:

The Skyscraper Index expresses the strange relationship between the building of the world’s tallest skyscraper and the onset of a major economic crisis. This relationship only came to light in 1999 when research analyst Andrew Lawrence published a report noting the odd connection between record-height buildings and noteworthy economic crises — that is, the skyscraper curse, a relationship that dated back nearly a century. Without a theory to support it, journalists largely dismissed Lawrence’s report as the fun story of the day.

Mark relates these skyscrapers to the Austrian Business Cycle Theory (ABCT). He shows how record-setting skyscrapers and recessions can be caused by a common factor: excessively cheap credit. We discuss this theory in the interview.

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  • The investor, Ray Dalio, who produced this video clearly has a solid grasp of credit cycles and some of the problems facing us in our economy today. He also is an extremely successful investor. I think what he is missing in this video is the Austrian Business Cycle theory. Please submit thoughts on how you would respond to this. Where is it inaccurate, and where is it accurate? It is certainly very well made and very clear.

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