Not a Capital Idea

One could easily argue that capital is flowing to the wrong places from a societal perspective.  While I have enormous respect for the operation of markets, I question whether it makes sense that hotel-related construction spending is up about 77 percent over the last three years and office-related construction spending is up 55 percent while spending on water supply is down 18 percent and public safety is down 11 percent.

 

Anirban Basu June 23rd, 2017

Posted In: Construction