This is a thoughtful and well-founded critique and it touches on many truths. But the deep change in architectural quality isn’t just about fiat money; it reflects a deeper shift that began with industrialization: efficiency over care, standardization over character, and yes, short-term profit over long-term value.
As Vitruvius put it: Think in terms of firmitas, utilitas, and venustas - strength, function, and beauty.
Historically, labor was cheap and materials were expensive. Buildings were shaped by craftsmanship, durability, and local resources. Ornament and proportion weren’t indulgent. They were signs of care, cultural continuity and socio-economical status. This was no asset in a abstract real estate portfolio - the owner actually lived here. Today, with labor costly and materials cheap, we get mechanized, soulless repetition. A clear loss in the realm of Venustas.
A striking example is stonemasonry: once central to construction, now nearly vanished from new buildings. Natural stone is rarely structural at best, it’s a thin veneer fixed to insulation. The idea of stone as a load-bearing material has been replaced by flexible grids of concrete columns and slabs. With the decline of the stonemason came the loss of centuries of tacit knowledge. In return, we’ve gained new technologies — concrete, float-glass, elevators, timber high-rises, advanced building systems, energy efficiency, accessibility, but often without the depth or craft of the old.
There’s also a selection bias: bad buildings from the past rarely survive. What remains are the best - giving us a distorted sense of history. Add to this the ideological breaks of modernism: Loos, Le Corbusier, and Gropius sought rupture, not continuity. Their early work had substance, but their successors often lacked the skill or sensibility to build meaningfully at human scale.
Vitruvius’ triad «firmitas, utilitas, venustas» has been thrown off balance. Durability is cut, function reduced to rentable floor area, and beauty sacrificed for sterile minimalism.
A Bitcoin standard, with its emphasis on low time preference, could support a shift back to long-term thinking and with it, better architecture. But money alone won’t build cathedrals. Culture, education, and taste must grow with it.
What we need is a new synthesis: craftsmanship and technology, function and beauty, past and future. Only then can architecture once again reflect human scale and meaning.