In the French daily Le Monde, Mark Thornton recently commented on the ongoing drive to build more and more skyscrapers in China.
In a feature from the business section entitled “Les villes chinoises veulent toutes leurs gratte-ciel géants,” Le Monde takes note of the phenomenon that is the skyscraper-dense Chinese city, and specifically, the completion of Shanghai Tower, now one of the tallest buildings in Asia.
According to Le Monde (loosely translated),
Mark Thornton, economist at the Mises Institute in Auburn (United States), and author of research on the correlation between the race skyward and the advent of large crises, warns: “The construction of skyscrapers is a precursor to economic disorders”…”The skyscrapers are just one symptom of the government’s extravagant economic policies.”
(Click here for Thornton’s 2010 lecture “Skyscrapers and the Housing Crisis.”)