Opinion By Justin Fox, Bloomberg, The Eagle; December 2, 2019
In most of the world’s affluent countries, railroads were either built by the government or eventually claimed by it. Beset by growing losses due to high labor costs, bureaucratic inefficiency, and the rise of automobiles and airplanes, those governments began reforming their rail systems in 1980s and 1990s with a mix of privatization, competition and arms-length contracting.