Empty Spaces: How Our Tax Policies Caused the Present Seizure by Unbalancing Hard and Soft Capital
Why we have more buildings than we use.
Many stores have closed in the last year; they stand empty behind signs reading “Available”, “For lease”, or “First month free”. So have many industries, their gates padlocked, their girders rusting. The capital in them is wasted, poured down a rat-hole. Multi-million dollar freighters are mothballed at Subic Bay, with no cargos to carry; others sail with unfilled capacity. Vast warehouses stand half-empty. Fleets of trucks wait for loads that never come. Redundant McMansions stand waiting for buyers, some advertising “Bank-owned”. Freight trains haul too many “empties going back”. The square miles of idled passenger and cargo jets in the Mojave desert is evolving into a jet cemetery.