Mises Institute Revenge of the Skyscraper Curse
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Jan 16, 2026 Mark Thornton explores the Skyscraper Curse, linking record-high towers to looming economic busts. He warns that with the Jeddah Tower surging towards completion, the signal for a potential crisis in 2026 is flashing. Delving into historical patterns, he argues that such skyscrapers often foreshadow late-cycle excess. Thornton also critiques recent Federal Reserve policies and their implications for the economy. It’s a deep dive into how architectural ambitions might reflect deeper financial trends.
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Skyscraper Height Predicts Crises
- The skyscraper curse links record-height skyscrapers with major economic crises over the last century.
- Mark Thornton argues this pattern has accurately predicted past downturns and signals another risk in 2026.
Author Refers To His Book Evidence
- Thornton references his 2018 book, The Skyscraper Curse, as the detailed record of these correlations and predictions.
- He points listeners to chapters that document the history, causes, and the anticipated next signal.
Crash Delayed By Unusual 2020 Shock
- Thornton says Austrians and others expected a recession at the end of 2019 independent of skyscraper signals.
- He notes the anticipated crash didn't follow the normal pattern because of the COVID shock and government interventions.
