
“The makers of autos, tires and headlights began building roads privately long before any state or the federal government got involved. The Lincoln Highway, the first transcontinental highway for cars, pieced together from new and existing roads in 1913, was conceived and partly built by entrepreneurs. Railroads are another example of the infrastructure-follows-entrepreneurship rule. Before the 1860s, almost all railroads were privately financed and built. Airplanes became a major industry and started carrying passengers by the early 1920s. During that period, nearly all airports were privately funded.”
http://online.wsj.com/article/SB10001424127887324635904578644233086643450.html
Related posts:
Is the Fed Blowing a New Housing Bubble?
Bill Bonner: A Crash Course in Money (Part III)
John Hussman: Yes, This Is An Equity Bubble
Could Bitcoin (or equivalent) Become a Global Reserve Currency?
Why Does Monsanto Always Win?
Taxation of Americans Abroad versus the 14th Amendment
Bill Bonner: Middle Class? What Middle Class?
The Battle for Self-Ownership in Medical Care
How To Lose a War Before Even Starting It
Extremely Serious Privacy Problem in America
A $100k earner gets to keep $99k in Singapore but $57k in San Francisco
Welcome to Police-State America, Weary Traveler
“Affordable Housing” Rules Result in Opposite
Terry Coxon on US Dysfunction and the International Trust Solution
Philip Giraldi: Where Are They Now?