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"Here's How The Private Sector Creates Growth And The Government Doesn't"

By Eric Falkenstein. Tells you pretty much everything you need to know. And includes this fine paragraph on one of my all time favorite boondoggles, light rail:

Thus, Minneapolis's light rail, at the cost of $1.1B for 12 miles of track, takes me longer to go downtown than a car because it stops 19 times at places no one wants to go because these 'hubs' were then sold as development opportunities, and an unusual number of ex-city councilmen are part owners of coffee shops and stores near these stops. Ridership does not even cover their marginal costs. It could have worked if they had an express train that went non-stop from end to end, but doesn't because it was not designed with the goal of making money, only the hope.

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