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The Missing Symbol in New York's Skyline

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In midtown Manhattan, a half-built skyscraper called the Metropolitan Life North Building was originally designed to be the tallest building in the world. The onset of the Great Depression, however, forced the design to be cut off midway, creating a lasting symbol of economic hubris.

As the global economy sputters in the wake of the coronavirus pandemic, some economists are looking again to city skylines for clues to the future. But skeptics argue that the so-called skyscraper curse, which holds that big buildings spell big financial trouble, is at best fanciful.

Video by Raymond Schillinger

Sources:

Thornton, Mark, Skyscrapers and Business Cycles (May 31, 2012):
https://ssrn.com/abstract=2071293

Barr, Jason and Mizrach, Bruce and Mundra, Kusum, Skyscraper Height and the Business Cycle: Separating Myth from Reality (July 1, 2014):
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1970059

Willis, Carol, Form Follows Finance (1995):
https://books.google.com/books?id=8ITT7GXSQnIC&printsec=frontcover#v=onepage&q&f=false

#BloombergCityLab #Cities #Skyscrapers
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Category
Business
Tags
News, bloomberg, skyscrapers
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