"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." ~ H.L. Mencken
The High-Speed Gravy Train: Special Interests, Transport Policy And Government Spending
Submitted by felix.ireton on Tue, 2017-02-28 01:00
In the United Kingdom, ministers appear to have disregarded the economic evidence and have chosen to proceed with the HS2 project for political reasons. An analysis of the incentives facing transport policymakers provides plausible explanations for their tendency to favour a low-return, high-risk project over high-return, low-risk alternatives. The full cost of the project may reach as much as £80bn.
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