The Skyscraper Curse is Dr. Mark Thornton's definitive work on booms and busts, and it explains why only Austrian economists really understand them. It makes business cycle theory accessible to a whole new 21st-century audience. And they need it, especially those under 40. Many of the brilliant quants working on Wall Street and at the Fed barely remember the Crash of 2008, much less understand it. But Mark Thornton does, and his book is a warning about overheated equity markets, over-inflated housing prices, and clueless central bankers. Given the shaky stock markets lately, 2018 may be the year the Fed’s latest bubble bursts. And when it does, it will be even more painful than 10 years ago. In fact, US household and business debt is now one trillion dollars higher than 2008. Mark is well known as an expert on bubbles and Fed malfeasance. His work appears in outlets like Wall Street Journal, Bloomberg, Forbes, The Economist, Barron’s, and Investor’s Business Daily. His now-infamous Skyscraper Index theory draws the connection between loose monetary policy, artificially low interest rates, and vanity construction projects. Put the three together and it doesn’t turn out well. And let’s not forget that Dr. Thornton was among only a handful of economists to warn about the dangerous housing bubble in 2004, and again in 2006. Cabbies and waiters bought up condos with no money down in places like Las Vegas. Prices rose 25 percent or more every year in some coastal markets. Even people with terrible credit financed houses at five or seven times their annual income. All of it was made possible by the Fed and its mania for low interest rates. So when the experts said “Nobody could have seen this coming,” the Mises Institute had Mark’s articles and papers ready to go. The housing crash, and the meltdown in equity markets less than a year later, were thoroughly explained by Austrian business cycle theory. And Mark was the capable face of the Mises Institute during it all. Without a lay-friendly book like The Skyscraper Curse, millions more Americans will be duped by the next crash. Dr. Thornton’s book tells the story that needs to be told. It will be among the only alternative explanations available when the next crisis comes.

Real Estate Valuation: A Subjective Approach highlights the subjective valuation components of residential and commercial real estate, which can lead to a range of acceptable property value conclusions. It discusses the causes of housing booms and goes in depth into the heterogeneity of commercial real estate property valuation via examples from owner-occupied, multifamily residential, hotel, office, retail, warehouse, condo conversion, and mortgage-backed security areas of real estate. Other topics explored include the role of machine learning and AI in real estate valuation, market participant value perceptions, and the challenge of time in the valuation process. The primary theoretical basis for the range of acceptable values and the subjectivity of property valuation focuses on the work of G.L.S. Shackle from the Austrian School of Economics. This illuminating textbook is suitable for undergraduate and master’s students of real estate finance, and will also be useful for practitioners in residential and commercial real estate.

The Skyscraper Curse is Dr. Mark Thornton's definitive work on booms and busts, and it explains why only Austrian economists really understand them. It makes business cycle theory accessible to a whole new 21st-century audience. And they need it, especially those under 40. Many of the brilliant quants working on Wall Street and at the Fed barely remember the Crash of 2008, much less understand it. But Mark Thornton does, and his book is a warning about overheated equity markets, over-inflated housing prices, and clueless central bankers. Given the shaky stock markets lately, 2018 may be the year the Fed’s latest bubble bursts. And when it does, it will be even more painful than 10 years ago. In fact, US household and business debt is now one trillion dollars higher than 2008. Mark is well known as an expert on bubbles and Fed malfeasance. His work appears in outlets like Wall Street Journal, Bloomberg, Forbes, The Economist, Barron’s, and Investor’s Business Daily. His now-infamous Skyscraper Index theory draws the connection between loose monetary policy, artificially low interest rates, and vanity construction projects. Put the three together and it doesn’t turn out well. And let’s not forget that Dr. Thornton was among only a handful of economists to warn about the dangerous housing bubble in 2004, and again in 2006. Cabbies and waiters bought up condos with no money down in places like Las Vegas. Prices rose 25 percent or more every year in some coastal markets. Even people with terrible credit financed houses at five or seven times their annual income. All of it was made possible by the Fed and its mania for low interest rates. So when the experts said “Nobody could have seen this coming,” the Mises Institute had Mark’s articles and papers ready to go. The housing crash, and the meltdown in equity markets less than a year later, were thoroughly explained by Austrian business cycle theory. And Mark was the capable face of the Mises Institute during it all. Without a lay-friendly book like The Skyscraper Curse, millions more Americans will be duped by the next crash. Dr. Thornton’s book tells the story that needs to be told. It will be among the only alternative explanations available when the next crisis comes.

From one of the world’s top experts on the economics of skyscrapers—a fascinating account of the ever-growing quest for super tall buildings across the globe. The world’s skyscrapers have brought us awe and wonder, and yet they remain controversial—for their high costs, shadows, and overt grandiosity. But, decade by decade, they keep getting higher and higher. What is driving this global building spree of epic proportions? In Cities in the Sky, author Jason Barr explains all: why they appeal to cities and nations, how they get financed, why they succeed economically, and how they change a city’s skyline and enable the world’s greatest metropolises to thrive in the 21st century. From the Empire State Building (1,250 feet) to the Shanghai Tower (2,073 feet) and everywhere in between, Barr explains the unique architectural and engineering efforts that led to the creation of each. Along the way, Barr visits and unpacks some surprising myths about the earliest skyscrapers and the growth of American skylines after World War II, which incorporated a new suite of technologies that spread to the rest of the world in the 1990s. Barr also explores why London banned skyscrapers at the end of the 19th century but then embraced them in the 21st and explains how Hong Kong created the densest cluster of skyscrapers on the planet. Also covered is the dramatic result of China’s “skyscraper fever” and then on to the Arabian Peninsula to see what drove Dubai to build the world’s tallest building, the Burj Khalifa, which at 2,717 feet, is higher than the new One World Trade Center in New York by three football fields. Filled with fascinating details for urbanists, architecture buffs, and urban design enthusiasts alike, Cities in the Sky addresses the good, bad, and ugly for cities that have embraced vertical skylines and offers us a glimpse to the future to see whether cities around the world will continue their journey ever upwards.

One hundred years after its foundation, the Federal Reserve has been entrusted with an enormous expansion in its operating powers for the sake of reviving a sluggish economy during the financial crisis. The aim of the present volume is to present a thorough and fundamental analysis of the Fed in the recent past, as well as over the entire course of its history. In evaluating the origin, structure and performance of the Fed, the contributors to this volume critically apply the principles of Austrian monetary and business-cycle theory. It is argued that the Fed has done harm to the U.S. and increasingly, the global economy by committing two types of errors: theoretical errors stemming from an incorrect understanding of the optimal monetary system, and historical errors, found in episodes in which the Fed instigated an economic downturn or hindered a budding recovery. The book contains not only a critical analysis of the activities of the Fed over its history, but also a road map with directions for the future.

This book sheds insight into financial decision making and lays down the major biases in human behavioral decision making, such as over-confidence, naïve extrapolation, attention, risk aversion, and how they lead investors and corporations to make considerable mistakes in investment. This book focuses China’s financial reforms and economic transition and uses many cases and results on China to highlight the importance of behavioral finance and investor education. It provides the much needed in-depth understanding of the Chinese capital market.

She already lost her mom, now her father is missing . . . Maddie Jones’ dad has been kidnapped. The only way to save him is to uncover the mysteries behind the ancient terracotta warriors of China. But the mysteries reveal a 2,000-year-old curse and a plan to unleash the soul of a malicious emperor. What’s a teenage girl to do? How about enlist the help of her seriously annoying brothers and stow away in a crate of mummies . . . then begin a very dangerous quest. An ancient evil is awakening. Terracotta warriors are coming to life. And worst of all for Maddie, she’ll have to recruit one if her plan is going to succeed. Maddie and her brothers will do anything to find and save their dad . . . even if they have to fight a mummy who has been plotting revenge for thousands of years. Some tombs shouldn’t be opened. Maddie Jones is an edgy Nancy Drew meets the Goonies with a voice like Percy Jackson.

How we can invent—but not predict—the future of cities. We cannot predict future cities, but we can invent them. Cities are largely unpredictable because they are complex systems that are more like organisms than machines. Neither the laws of economics nor the laws of mechanics apply; cities are the product of countless individual and collective decisions that do not conform to any grand plan. They are the product of our inventions; they evolve. In Inventing Future Cities, Michael Batty explores what we need to understand about cities in order to invent their future. Batty outlines certain themes—principles—that apply to all cities. He investigates not the invention of artifacts but inventive processes. Today form is becoming ever more divorced from function; information networks now shape the traditional functions of cities as places of exchange and innovation. By the end of this century, most of the world's population will live in cities, large or small, sometimes contiguous, and always connected; in an urbanized world, it will be increasingly difficult to define a city by its physical boundaries. Batty discusses the coming great transition from a world with few cities to a world of all cities; argues that future cities will be defined as clusters in a hierarchy; describes the future “high-frequency,” real-time streaming city; considers urban sprawl and urban renewal; and maps the waves of technological change, which grow ever more intense and lead to continuous innovation—an unending process of creative destruction out of which future cities will emerge.

This book is innovative in methodology, novel in ideas and rich in contents. The book is the first attempt to amalgamate economics with poetry, mythologies, novels, paintings, and movies that pertain to economic subjects. It presents the principles of economics in a systematic manner, but in plain and lyrical English. Through analysing real-world issues using solid economic theory, and literary prose, the topics discussed in the book allow for a straight to the point analysis which can be used by all. The book serves as a guide to college undergraduate and MBA students who are beginning to study economics and as a navigator to lay readers including financial practitioners, fund managers, and portfolio investors who need economics knowledge in their chosen fields. The book introduces 22 European, American, Chinese, Japanese and Korean poems which are related to economic subjects.

"Swag" is a style of lamp.