Economics: The Latest Architecture and News

Architecture, as a profession, is highly cyclical in nature. It ebbs and flows with the tides of economic conditions, and is especially hard hit during times of downturn. We’ve all heard stories or experienced it ourselves, or layoffs during the Great Financial Crisis in 2008, or even more recently the significant cutbacks architecture firms went through during the uncertainty of the COVID-19 pandemic. Projects went on hold and new business opportunities declined almost overnight. Now, two years later, firms are keeping a close watch on global supply chain issues and rising inflation rates, especially with increased pressure to meet the needs of a growing urban population. Will architecture be recession-proof as we enter a bear market? 

Videos

The Lisbon Architecture Triennale published on Vimeo the series of debates Talk, Talk, Talk held during its 5th edition, which was curated by Éric Lapierre. Divided into five major exhibitions, the Triennale addressed in one of them the issue of economy of means, discussed in the debates below.

The New York Times has published an in-depth article entitled ‘How China Built iPhone City With Billions in Perks for Apple’s Partners’, revealing a treasure chest of public benefits for the world’s biggest iPhone factory in Zhengzhou, China. In a city of six million inhabitants in an impoverished region of China, the local government has contributed $1.5 billion to Foxconn, Apple’s supplier of iPhones. The money is used, in part, to improve local infrastructure, reduce Foxconn's export costs, and build housing for the factory’s 350,000-strong workforce (five times the number of people employed directly by Apple in the United States).