One reason our economy finally got going from the malaise of the 1970s was Jimmy Carter's deregulation of a few items, including transportation. Reagan got the credit for Jimmy Carter's most excellent administration, since it takes time for policies to affect change.
Now, in particular in transportation, the minions that be are working hard to roll back the benefits of deregulation. There are two ways...
1. Waste vast sums and make matters worse. Every city does this, here is just the latest.
Now there is that $260 million dollars per mile figure again, last seen recently in Seattle. No city is building 1880s technology light rail because anyone needs it, it is because lawyers and bankers can get away with charging 260 million per mile for something that costs maybe $6 million per mile. And even at $6 million per million, there would never be a way to recover the cost from fares, let alone $260 million per mile. It is just a means for stealing today from three and four generations out.
2. Destroy competition. Here is a version of this.
Feel free to forward this by email to three of your friends.
Now, in particular in transportation, the minions that be are working hard to roll back the benefits of deregulation. There are two ways...
1. Waste vast sums and make matters worse. Every city does this, here is just the latest.
In 2011, officials in Honolulu, Hawaii began construction on a controversial 20-mile rail project partly because of almost $1.8 billion in federal subsidies to President Barack Obama's home state. The project's total cost estimate stands at $5.3 billion, but if other similar projects are any indication, the final price tag will increase dramatically before anyone even gets to buy a ticket. What's playing out in the Aloha State is happening all over the country.
Now there is that $260 million dollars per mile figure again, last seen recently in Seattle. No city is building 1880s technology light rail because anyone needs it, it is because lawyers and bankers can get away with charging 260 million per mile for something that costs maybe $6 million per mile. And even at $6 million per million, there would never be a way to recover the cost from fares, let alone $260 million per mile. It is just a means for stealing today from three and four generations out.
2. Destroy competition. Here is a version of this.
The government initiative also fits the classic pattern in which regulation destroys politically weak businesses to the benefit of the politically strong—like Greyhound, Coach USA, and Peter Pan, which have seen their market share grow. Most of Fung Wah’s employees and its owner were Chinese immigrants lacking the language skills and legal muscle required to navigate all the red tape. And Fung Wah is only the best-known victim of this onslaught. On May 31, 2012, the Federal Department of Transportation shutdown 26 bus companies in a single day, and since then it has forced an additional 15 closures. Many of those companies were owned by Chinese immigrants. The American Bus Association, a trade association that primarily represents the large corporate carriers, has cheered the government on.Recall that prosperity is rooted in the Latin word for hope. The people who make these rules, and expect to have 40 plus years of pension payments on the backs of the productive, will have to worry about when there is not enough productive people out there to cover a pension for 20 years of obstructing prosperity. Funny situation, that.
Feel free to forward this by email to three of your friends.
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