There’s been a great back and forth over the past few days on high speed rail, most of it stemming from Ed Glaeser’s flawed cost-benefit analysis, and Yonah Freemark’s counter-analysis.
First, Tyler Cowen weighs in on Yonah’s HSR analysis.
Don’t do it. Given irreversible investment, lock-in effects, and required hurdle rates of return, this still falls into
Continue reading Path dependence, libertarianism, and HSR
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