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Dr. Mark Thornton: Is China The Next Victim of The Skyscraper Curse?

3,291 views · Published 31 August 2018 · 1:04:58 · Indexed 21 September 2026

Channel: WallStForMainSt · 2018 · Education

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Jason Burack of Wall St for Main St interviewed returning guest, author, economics professor and senior fellow at the Mises Institute https://mises.org/, Dr. Mark Thornton. 

Mark's full bio is here: https://mises.org/profile/mark-thornton

Download Mark's new book, The Skyscraper Curse, for free as an audio book download or a PDF on the Mises Institute's website here: https://mises.org/library/skyscraper-curse

During this 50+ minute interview, Jason starts off by asking Mark what is the 'Skyscraper Curse,' when was it hypothesized and who came up with the idea?

Mark talks about how excessive skyscrapers have often signaled the end of a major credit boom that's soon to be followed by a major bust for over 100 years! 

Mark talks about how large skyscrapers like the Chrysler Building and the Empire State Building were being built in New York City immediately before, during and after the 1929 Great Depression beginning. 

Jason and Mark discuss Austrian School Economics, the Cantillon Effect and the track record of past and current Austrians predicting credit bubbles eventually going bust. 

Jason also asks Mark about current real estate bubbles like the US commercial real estate bubble, the explosion of construction in and around DC and major US college towns like Auburn, Alabama and also China.

China will have more skyscrapers than any other country in the world (projected amount of 1,318) by 2022, according to the latest report on skyscrapers by website Motiancity.com. Will China, and their growing credit bubble and largely centrally planned economy be the next victim of the Skyscraper curse? 

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