The Empire State Building as Stimulus Project

Construction worker with Chrysler Building in background

The stock market crash of 1929 precipitated the Great Depression, and was the most devastating stock market crash in U.S. history. By the summer of 1932 the Dow Jones Industrial Average fell 89% from its peak, and would be at its lowest mark of the 20th century. Despite the floundering economy, construction on the Empire State Building began in January 1930, employed 3400 workers, and took only 410 days to complete. Today, the American Society of Civil Engineers considers the Empire State Building to be one of the seven wonders of the modern world. Over at the BBC World Service, there’s a documentary titled “Building out of the Recession,” which looks at the role that massive public works projects played in pulling the world out of the Great Depression. Of course, it gives some advice for the current global economy, while also comparing the Empire State Building’s construction to current projects such as the Burj Dubai.

After giving that a listen, check out the book Empire State Building: The Making of a Landmark.

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