Why Are Railroads Important?. Railroads are necessary for the efficient functioning of a modern economy. No other transportation mode can handle the bulk.

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Presentation transcript:

Why Are Railroads Important?

Railroads are necessary for the efficient functioning of a modern economy. No other transportation mode can handle the bulk shipping necessary for an industrial economy with the speed and efficiency of a modern Diesel-Electric Locomotive on a high quality roadbed.

Their Age – 1828 –> Now The age of the railroad network allows us to study how the economic and political systems interact.

Their Unprecedented Economic Effects They were the first mass transportation in human history. For the first time ordinary people could afford to cheaply and safely travel over long distances on land.

Private Ownership in an Almost Pure Capitalist Environment

The Benefits and Costs of Government Regulation

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