Saturday, November 1, 2008
New London Skyscrapers and Recession
As the Chrysler and Empire State Buildings raced each other to become the tallest in the world, the 1929 crash saw the economy collapse around them. The World Trade Center towers were completed in the dire stagflation of the mid-1970s which saw New York bankrupt, crime-ridden and at its lowest ebb. The passing of the high-rise baton to Asia with the completion of the Petronas Towers saw the collapse of the Asian markets in 1997. Super skyscrapers appear to be bad news for the economy.