The Skyscraper Effect was first suggested in 1999 by Andrew Lawrence, who created the skyscraper index. A descriptive timeline than a traditional index, noting that for more than 100 years, history has been full of examples of the world’s tallest building coinciding with the start of a global economic crisis.

Take for instance the MetLife Tower in New York, announced in 1905 to stand at 700 ft, it preceded the Banker’s Panic of 1907.
Or the Empire State building. Completed in 1931 to rise to 1,250 ft. It coincided with the Great Depression. Laying largely dormant for years.
More recent examples include Malaysia’s Petronas towers, completed just before the Asian Financial crisis.
Alongside the world’s current tallest building, the Burj Khalifa. Which at over 2,700 ft, became the tallest building just before the global financial crisis. In fact, it’s very name is a result of the crisis. Initially called the Burj Dubai, it was bailed out by the ruler of Abu Dhabi, crown prince Khalifa, who in exchange put his name on the mega project.

#Skyscraper #SkyscraperEffect #Economics

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