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I'm hesitant to respond to what seems to be such an obvious troll; but I will give you the benefit of the doubt. Railroads, in fact all major transportation in
by olefoo 18y ago
I'm hesitant to respond to what seems to be such an obvious troll; but I will give you the benefit of the doubt.
Railroads, in fact all major transportation infrastructure projects, have always been dependent on government participation. It is just not possible to build a project that requires rights-of-way stretching over vast distances and needing planning horizons extending decades into the future without the government being involved, if only to settle the inevitable disputes.
I do find it amusing that Atlas Shrugged idolized the railroad barons and the industrialists who fed off them since in reality their businesses were completely dependent on government subsidies; and would not have been nearly as successful had the United States not been GIVING vast tracts of land to railroad companies to fund their expansion.
But leaving all of that sordid history and ideological self-delusion aside. I would be happy to invest my money in railroad bonds that were devoted to expanding the I-5 transportation corridor with a high-speed rail link.
And as a side note for the Keynesians in the audience, a major construction effort on that scale would be expected to add approximately 40-70,000 jobs for the duration of construction, and provide a measurable gdp multiplier for the region it serves once it comes into operation.
- anamax 18y ago> It is just not possible to build a project that requires rights-of-way stretching over vast distances and needing planning horizons extending decades into the future without the government being involved, if only to settle the inevitable disputes. My point is that it doesn't stop with arranging for right-of-way and settling contract disputes - it starts there. > I would be happy to invest my money in railroad bonds that were devoted to expanding the I-5 transportation corridor with a high-speed rail link. And I'd be happy to let you if the bonds are backed by the project and not any entity with taxation powers.