Iconic economist John Maynard Keynes once wrote:
If the Treasury were to fill old bottles with banknotes, bury them at suitable depths in disused coalmines which are then filled up to the surface with town rubbish, and leave it to private enterprise on well-tried principles of laissez-faire to dig the notes up again (the right to do so being obtained, of course, by tendering for leases of the note-bearing territory), there need be no more unemployment and, with the help of the repercussions, the real income of the community, and its capital wealth also, would probably become a good deal greater than it actually is. It would, indeed, be more sensible to build houses and the like; but if there are political and practical difficulties in the way of this, the above would be better than nothing.
I guess the Chinese government found a modern application of this theory…
From en.people.cn:
Having been left unused for too long, the building could not be brought back into use so local government decided to demolish it.It is reported to be the highest building that has ever been demolished in China.
Since "build and they would come" didn't work, so might as well just build THEN demolish as a circular economic growth model. Neat!
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