Two sides of the construction industry

Abstract

Janus-like (two-faced) situations appeal to me and the oft-mentioned economic input of the construction industry is a good example. On one hand, people who blow the industry's trumpet say that 20 per cent of the country's output comes from real estate and construction, that 9,000 permits were issued for property developments last year and that the industry directly or indirectly injects Lm200 million into the economy. Such short-sighted calculations do not include the environmental impact into the equation, contrary to the emerging field of environmental economics.