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This early work had a big payoff: the Friedman/Phelps prediction that sustained inflation would get "built in", and that the historical tradeoff between inflation and unemployment would vanish.
Then again, how many big buildings do you think get built in the UK each year?
If you have more than the number that's physically possible, automatic delays get built in".
"Most of Queens doesn't get built in the 1820's, 30's and 40's.
That's how new industries get built in America: a horde of companies rise up, the weak or misguided fall away, and a few good ones thrive.
"Right now it's a fairly fragmented landscape, but ultimately it's pretty clear there will be consolidation, and out of the other side there'll be a handful of big, enduring companies that get built in this space," he says.
Similar(42)
But it got built in relative invisibility.
"People say, 'This Goldman Sachs building got built in four years.
"Right now, nothing is getting built in this economy.
The house gets built in ideal dry conditions.
"I wanted to see how these gigantic projects got built in China," he says.
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