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In any city at any time, some of the stock of usable office space is vacant. This vacant office space is unemployed capital.  Is this a social problem?

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This is only a social problem if there is too much office space vacant at a given time.  We would not want a city to have zero empty office space because that would show that there is an imbalance between supply and demand.

If there is a relatively small amount of vacant office...

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