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Skyscraper Index
The Skyscraper Index is a concept put forward by Andrew Lawrence, a property analyst at Dresdner Kleinwort Wasserstein, in January 1999, which showed that List of tallest buildings in the world, the world's tallest buildings have risen on the eve of economic downturns. Business cycles and skyscraper construction correlateThornton, p. 51 in such a way that investment in skyscrapers peaks when cyclical growth is exhausted and the economy is ready for recession.Thornton, p. 53 Mark Thornton's Skyscraper Index Model successfully predicted the Great Recession at the beginning of August 2007. The buildings may actually be completed after the onset of the recession or later, when another business cycle pulls the economy up, or even cancelled. Unlike earlier instances of similar reasoning ("height is a barometer of boom"),Willis, p. 167 Lawrence used skyscraper projects as a predictor of economic crisis, not boom. One statistical study found that the height of buildings is not an accurate ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Dresdner Kleinwort Wasserstein
SG Kleinwort Hambros is a private bank owned by Société Générale that offers financial services from offices throughout the United Kingdom, Channel Islands and Gibraltar. History In June 2016, Société Générale acquired Kleinwort Benson from Oddo & Cie. It merged Kleinwort Benson with its existing private banking subsidiary Hambros Bank, SG Hambros in November 2016 to form Kleinwort Hambros. Mouhammed Choukeir was appointed CEO in April 2020. References Economy of the City of London Investment banks Banks established in 2016 Financial services companies established in 2016 Banks of the United Kingdom {{UK-bank-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
World Trade Center (1973–2001)
The original World Trade Center (WTC) was a complex of seven buildings in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. Built primarily between 1966 and 1975, it was dedicated on April 4, 1973, and was collapse of the World Trade Center, destroyed during the September 11 attacks in 2001. At the time of their completion, the 110-story-tall Twin Towers, including the original 1 World Trade Center (1970–2001), 1 World Trade Center (the North Tower) at , and 2 World Trade Center (1971–2001), 2 World Trade Center (the South Tower) at , were the History of the world's tallest buildings#Skyscrapers: tallest buildings since 1908, tallest buildings in the world; they were also the List of tallest twin buildings and structures, tallest twin skyscrapers in the world until 1996, when the Petronas Towers opened in Kuala Lumpur, Malaysia. Other buildings in the complex included the Marriott World Trade Center (3 WTC), 4 World Trade Center (197 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Mark Thornton
Mark Thornton (born June 7, 1960) is an American economist of the Austrian School. DiLorenzo, Thomas (2011-02-11My Associations with Liars, Bigots, and Murderers '' LewRockwell.com'' He has written on the topic of prohibition of drugs, the economics of the American Civil War, and the "Skyscraper Index". He is a Senior Fellow with the Ludwig von Mises InstituteMark Thornton fellow page website, ''accessed December 21, 2013.'' in Alabama and a Research Fellow with the . [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Richard Cantillon
Richard Cantillon (; 1680s – ) was an Irish-French economist and author of '' Essai Sur La Nature Du Commerce En Général'' (''Essay on the Nature of Trade in General''), a book considered by William Stanley Jevons to be the "cradle of political economy". Although little information exists on Cantillon's life, it is known that he became a successful banker and merchant at an early age. His success was largely derived from the political and business connections he made through his family and through an early employer, James Brydges. During the late 1710s and early 1720s, Cantillon speculated in, and later helped fund, John Law's Mississippi Company, from which he acquired great wealth. However, his success came at a cost to his debtors, who pursued him with lawsuits, criminal charges, and even murder plots until his death in 1734. ''Essai'' remains Cantillon's only surviving contribution to economics. It was written around 1730 and circulated widely in manuscript form, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
New York Times Building
The New York Times Building is a 52-story skyscraper at 620 Eighth Avenue, between 40th and 41st Streets near Times Square, on the west side of Midtown Manhattan in New York City, New York, U.S. Its chief tenant is the New York Times Company, publisher of ''The New York Times''. The building is tall to its pinnacle, with a roof height of . Designed by Renzo Piano and Fox & Fowle, the building was developed by the New York Times Company, Forest City Ratner, and ING Group, ING Real Estate. The interiors are divided into separate ownership units, with the New York Times Company operating the lower office floors and Brookfield Properties operating the upper floors. , the New York Times Building is tied with the Chrysler Building as the List of tallest buildings in New York City, twelfth-tallest building in the city. The building is cruciform in plan and has a steel-framed superstructure with a cross bracing, braced mechanical core. It consists of the office tower on the west side ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Manhattan
Manhattan ( ) is the most densely populated and geographically smallest of the Boroughs of New York City, five boroughs of New York City. Coextensive with New York County, Manhattan is the County statistics of the United States#Smallest, largest, and average area per state and territory, smallest county by area in the U.S. state of New York (state), New York. Located almost entirely on Manhattan Island near the southern tip of the state, Manhattan constitutes the center of the Northeast megalopolis and the urban core of the New York metropolitan area. Manhattan serves as New York City's Economy of New York City, economic and Government of New York City, administrative center and has been described as the cultural, financial, Media in New York City, media, and show business, entertainment capital of the world. Present-day Manhattan was originally part of Lenape territory. European settlement began with the establishment of a trading post by Dutch colonization of the Americas, D ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Monetary Expansion
Monetary policy is the policy adopted by the monetary authority of a nation to affect monetary and other financial conditions to accomplish broader objectives like high employment and price stability (normally interpreted as a low and stable rate of inflation). Further purposes of a monetary policy may be to contribute to economic stability or to maintain predictable exchange rates with other currencies. Today most central banks in developed countries conduct their monetary policy within an inflation targeting framework, whereas the monetary policies of most developing countries' central banks target some kind of a fixed exchange rate system. A third monetary policy strategy, targeting the money supply, was widely followed during the 1980s, but has diminished in popularity since then, though it is still the official strategy in a number of emerging economies. The tools of monetary policy vary from central bank to central bank, depending on the country's stage of development, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Speculation
In finance, speculation is the purchase of an asset (a commodity, good (economics), goods, or real estate) with the hope that it will become more valuable in a brief amount of time. It can also refer to short sales in which the speculator hopes for a decline in value. Many speculators pay little attention to the fundamental value of a security and instead focus purely on price movements. In principle, speculation can involve any tradable good or financial instrument. Speculators are particularly common in the markets for stocks, bond (finance), bonds, commodity futures, currency, currencies, cryptocurrency, fine art, collectibles, real estate, and derivative (finance), financial derivatives. Speculators play one of four primary roles in financial markets, along with hedge (finance), hedgers, who engage in transactions to offset some other pre-existing risk, arbitrageurs who seek to profit from situations where Fungibility, fungible instruments trade at different prices in dif ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Overinvestment
In economics, overproduction, oversupply, excess of supply, or glut refers to excess of supply over demand of products being offered to the market. This leads to lower prices and/or unsold goods along with the possibility of unemployment. The demand side equivalent is underconsumption; some consider supply and demand two sides to the same coin – excess supply is only relative to a given demand, and insufficient demand is only relative to a given supply – and thus consider overproduction and underconsumption equivalent. In lean thinking, overproduction of goods or goods in process is seen as one of the seven wastes (Japanese term: ''muda'') which do not add value to a product, and is considered "the most serious" of the seven.EKU OnlineThe Seven Wastes of Lean Manufacturing ''Eastern Kentucky University'', accessed 6 March 2023 Overproduction is often attributed to previous overinvestment – creation of excess productive capacity, which must then either lie idle (or un ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
1997 Asian Financial Crisis
The 1997 Asian financial crisis gripped much of East Asia, East and Southeast Asia during the late 1990s. The crisis began in Thailand in July 1997 before spreading to several other countries with a ripple effect, raising fears of a worldwide economic meltdown due to financial contagion. However, the recovery in 1998–1999 was rapid, and worries of a meltdown quickly subsided. Originating in Thailand, where it was known as the ''Tom yum, Tom Yum Kung crisis'' () on 2 July, it followed the financial collapse of the Thai baht after the Thai government was forced to floating currency, float the baht due to lack of list of circulating currencies, foreign currency to support its currency fixed exchange rate, peg to the U.S. dollar. Capital flight ensued almost immediately, beginning an international chain reaction. At the time, Thailand had acquired a burden of foreign debt. As the crisis spread, other Southeast Asian countries and later Japan and South Korea saw slumping currencies, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Petronas Twin Towers
The Petronas Towers (), also known as the Petronas Twin Towers and colloquially the KLCC Twin Towers, are an interlinked pair of 88-storey supertall skyscrapers in Kuala Lumpur, Malaysia, standing at . From 1996 to 2004, they were the tallest buildings in the world until they were surpassed by the Taipei 101 building. The Petronas Towers remain the world's tallest twin skyscrapers, surpassing the original World Trade Center towers in New York City, and were the tallest buildings in Malaysia until 2021, when they were surpassed by Merdeka 118. The Petronas Towers are a major landmark of Kuala Lumpur, along with the nearby Kuala Lumpur Tower and Merdeka 118, and are visible in many places across the city. History and architecture The Petronas Towers' structural system is a tube in tube design, invented by Bangladeshi-American architect Fazlur Rahman Khan. Applying a tube-structure for extreme tall buildings is a common phenomenon. The 88-floor towers are constructed large ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
