Euphoria and Paper Wealth

Robert Z. Aliber and Charles P. Kindleberger
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Robert Z. Aliber: University of Chicago
Charles P. Kindleberger: Massachusetts Institute of Technology

Chapter 6 in Manias, Panics, and Crashes, 2015, pp 132-142 from Palgrave Macmillan

Abstract: Abstract Consider the birthdates of some of the tallest buildings in the world. The Empire State Building in New York City — 1250 feet tall — was started in 1929, at the peak of a bubble. In the late 1980s it seemed like 80 percent of the building cranes used to construct tall structures were in Tokyo. By the mid-1990s many of these cranes had migrated to Shanghai and Beijing, and then they moved to the Persian Gulf. Now the tallest building is the Burj Dubai in the United Arab Emirates, completed in 2010.

Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-52574-1_7

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DOI: 10.1007/978-1-137-52574-1_7

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