There is an eerie correlation between the construction of a new world’s tallest building and economic crisis, the so-called Skyscraper Curse. Professor Mark Thornton, Senior Fellow at the Mises Institute, explains why this is so, drawing on his expertise in Austrian economics, in episode 118 of the Economics Explored podcast.
About this episode’s guest – Mark Thornton
Mark Thornton is the Peterson-Luddy Chair in Austrian Economics and a Senior Fellow at the Mises Institute. He serves as the Book Review Editor of the Quarterly Journal of Austrian Economics. His publications include The Economics of Prohibition (1991), Tariffs, Blockades, and Inflation: The Economics of the Civil War (2004), The Quotable Mises (2005), The Bastiat Collection (2007), An Essay on Economic Theory (2010), The Bastiat Reader (2014), and The Skyscraper Curse and How Austrian Economists Predicted Every Major Crisis of the Last Century (2018).
Dr. Thornton served as the editor of the Austrian Economics Newsletter and was a member of the Editorial Board of the Journal of Libertarian Studies and several other academic journals. He has served as a member of the graduate faculties of Auburn University and Columbus State University. He has also taught economics at Auburn University at Montgomery and Trinity University in Texas. Mark served as Assistant Superintendent of Banking and economic adviser to Governor Fob James of Alabama (1997-1999), and he was awarded the University Research Award at Columbus State University in 2002. He is a graduate of St. Bonaventure University and received his PhD in economics from Auburn University. In 2014, he debated in opposition to the “War on Drugs” at Oxford Union.
Links relevant to the conversation
Cantillon’s Essay on Economic Theory edited by Mark Thornton
Thanks to the show’s audio engineer Josh Crotts for his assistance in producing the episode.
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