Thursday, January 12, 2012

Are skyscrapers an indicator of economic strife?

Maybe its the history of large-scale projects being funded in order to employ people, maybe its a coincidence (its not) or maybe there is actual data behind this idea (there is).

From the BBC:

[Its] noted that the world's first skyscraper, the Equitable Life building in New York, was completed in 1873 and coincided with a five-year recession. It was demolished in 1912.
Other examples include Chicago's Willis Tower (which was formerly known as the Sears Tower) in 1974, just as there was an oil shock and the US dollar's peg to gold was abandoned.
And Malaysia's Petronas Towers in 1997, which coincided with the Asian financial crisis.
The findings might be a concern for Londoners, who are currently seeing the construction of what will be Western Europe's tallest building, the Shard.

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