The $130 Billion Train That Couldn’t
California’s High Speed Rail is only the latest blue-state infrastructure failure.
In the annals of stupid and poorly run schemes, the California High-Speed Rail project ranks among the worst. Its future, even a dramatically scaled down one, has become ever more precarious since the Trump administration’s Department of Transportation rescinded $4 billion in funds already granted the project.
Governor Newsom has already filed a suit to reverse the action, but he can’t legislate away the reality that this project is an abject embarrassment. When voters approved $9 billion for the plan in 2008, the California High-Speed Rail Authority estimated that it would cost $33 billion and start running by 2020 – and that was just for the San Joaquin Valley portion. The cost has since ballooned to $130 billion, and no stretch is operational.
In neither the short-term nor the mid-term is there a way of providing the promised San Francisco to Los Angeles service in 2 hours and 40 minutes. Instead, the plan is now for the train to work in a “blended” fashion, mixing with conventional and freight trains in parts of the San Francisco and Los Angeles metropolitan areas. To say the least, a line running from the Central Valley hubs of Bakersfield, Fresno and Merced hardly seems a romantic return to the rails of the past.
Economic Dynamism
The Price of Stagnation: Britain’s Retreat from Dynamism
We face a basic issue: we do not let cities or communities grow or die.
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London and the Architecture of Creative Growth
Preserving London's creative dynamism will require humility from policymakers and a commitment to keeping the city liveable.
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Is Economics a Failure?
Rather than ending with “economics is broken,” Alexander Rosenberg’s deliberately provocative book 'Blunt Instrument' argues that “economics is useful for a different reason than economists often say.” That is a serious and worthwhile thesis.
Locke, Meet Claude
The concern is not regulation per se. It is a regulation that outruns its justification by arriving before the evidence, foreclosing the technology before its benefits are understood, and insulating the powerful from competition that would otherwise discipline them. That is the pattern worth resisting.
