Observations on economics, the academy, the wider world, and things that run on rails.
25.6.15
ANOTHER REGRESSIVE TRANSFER?
Our roads don't pay for themselves. The user fees and tolls don't come close to meeting maintenance and resurfacing expenses, let alone provide for the raising of capital for new roads. Repeat with me: no mode of transportation pays for itself.
I'm going to start calling this Karlson's lemma: "No mode of transportation pays for itself." That was I can use it in class before introducing Tufte's corollary: "All transportation industries are ultimately characterized by bankruptcies, consolidation, or both".
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I'm going to start calling this Karlson's lemma: "No mode of transportation pays for itself." That was I can use it in class before introducing Tufte's corollary: "All transportation industries are ultimately characterized by bankruptcies, consolidation, or both".
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