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by rsj_hn 1699 days ago
It's a test of intergenerational commitment, because you are asking the generation that bears the cost of construction to build something that benefits many future generations. But the future generations, even though they enjoy all those beautiful old buildings provided to them by their ancestors, are tempted to go cheap for the building they need to build themselves.

So as people become disconnected from the great chain of being that connects your ancestors to you and you to your descendants, they start to build ugly, disposable buildings.

Perhaps one approach might be to provide lower interest rates to buildings based on the expected life and maintenance cost. So a building that is expected to last 500 years would have a much lower annual interest burden than a building expected to last 70 years. That would require some type of government guarantee for the 500 year bond.