As a life-long railfan, I love passenger trains. But as a transportation economist, I hate subsidies for the way they dilute productivity and transfer wealth from the many to the few. Thus, I am a reluctant opponent of subsidies to Amtrak and urban rail transit.
Romance of the Rails, a new book that the Cato Institute will publish in October, is my attempt to reconcile these views by looking deep into the history of passenger rail transportation. read more »