Professor Mark J. Perry's Blog for Economics and Finance
Friday, November 12, 2010
Chinese Workers Build 15-story Hotel in Just 6 Days
Yahoo! News -- "A construction crew in the south-central Chinese city of Changsha has completed a 15-story hotel in just 6 days. The work crew erected the hotel -- a soundproofed, thermal-insulated structure reportedly built to withstand a magnitude 9 earthquake -- with all prefabricated materials. In other words, a crew of off-site factory workers built the sections, and their on-site counterparts arranged them on the foundation for the Ark Hotel project.
Despite the frenetic pace of construction, no workers were injured -- and thanks to the prefab nature of the process, the builders wasted very few construction materials. Above is a time-lapse video that shows the hotel being built from the ground up in less than a week."
HT: My co-author Seyed Mehdian, who asks "Would this have been possible under central planning and communism?"
From Darren in the comments: "I see this as a testament to how well capitalism has worked. Does anyone doubt that the technology to enable such a thing was created through a free market system that rewards innovation? The fact that a totalitarian regime has embraced capitalism at a pace and degree to which no one 10 years ago would have predicted just reinforces the power of free markets."