Sounds like a new section on http://patrickcollison.com !
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It was a kind of physical public good, but, yes, "construction cost disease" might be better.
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The touristic rate of return on that Eiffel expenditure has to be absurdly high.
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Which part of construction is not expensive anymore? Is it the cost of acquisition of the land or the cost of acquiring permits or the labor cost or the materials cost?
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Comparison: Tokyo Tower, 10% taller, built later in less than two years, at 73M$
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That was a long time ago too! The Tokyo Skytree seems to have cost $500M+. https://en.wikipedia.org/wiki/Tokyo_Skytree …
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another thing that’s highly inefficient, though, is disinvesting in infrastructure out of fear of costs and then having to deal with a rupturing of the social fabric down the road when you don’t have enough housing stock and your transit system can’t handle your population.
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also, i might suggest that before calling it a disease it could be helpful to consider how much money the eiffel tower has brought into the parisian economy in the years since
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