Economics
The American TV show Pricing the Priceless speculates that in 2011 the tower would cost about $480,000,000 to build, that the land under the tower is worth $350,000,000, and that the scrap value of the tower is worth $3,500,000. The TV show estimates the tower makes a profit of about $29,000,000 per year, though it is unlikely that the Eiffel Tower is managed so as to maximize profit.
It costs $5,300,000 to repaint the tower, which is done once every seven years. The electric bill is $400,000 per year for 7.5 million kilowatt-hours.
The Tokyo Tower in Japan is a very similar structure of very similar size. It was finished in 1958 at a final cost of ¥2.8 billion ($8.4 million in 1958).
Read more about this topic: Eiffel Tower
Famous quotes containing the word economics:
“I am not prepared to accept the economics of a housewife.”
—Jacques Chirac (b. 1932)
“There is no such thing as a free lunch.”
—Anonymous.
An axiom from economics popular in the 1960s, the words have no known source, though have been dated to the 1840s, when they were used in saloons where snacks were offered to customers. Ascribed to an Italian immigrant outside Grand Central Station, New York, in Alistair Cooke’s America (epilogue, 1973)
“Religion and art spring from the same root and are close kin. Economics and art are strangers.”
—Willa Cather (1876–1947)