Mises Wire

The Economist Magazine Declares There Is No Such Thing As A Skyscraper Curse

Here is the Skyscraper Curse

The Economist declares there is no such thing as a Skyscraper Curse and they have the mainstream empirical evidence to support that declaration.

I wrote them a letter to the editor, but apparently they are not going to publish it. Here is my letter:

Dear Editor of The Economist:

Thank you for discussing my research and referencing my journal article from the Quarterly Journal of Austrian Economics. (“Is there such a thing as a skyscraper curse,” March 28)  I would note that Mr. Barr, Bruce Mizrach and Kusum Mundra’s research actually supports my thesis that misaligned interest rates cause both record setting skyscrapers and economic crisis. The fact that skyscraper height and GDP are cointergrated is no surprise and actually supports the case for a skyscraper curse. Also, I claim no precision with respect to the exact timing of events, especially with respect to “announcements” and “completions.” Groundbreaking and record achieving dates are actually more relevant, yet are still imprecise. They say a picture is worth a 1000 words and I think you’re graphic of the timing of record setting skyscrapers and economic crisis says it all.

Mark Thornton, PhD.

Senior Fellow (economist)

Ludwig von Mises Institute

Auburn, AL 36830 (USA)

 

 

Image
All Rights Reserved ©
Note: The views expressed on Mises.org are not necessarily those of the Mises Institute.
What is the Mises Institute?

The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard. 

Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.

Become a Member
Mises Institute