bripat9643
Diamond Member
- Apr 1, 2011
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If the American people want a socialist program and are willing to pay for it is that OK?
Apparently.
The Railroad is probably the oldest and largest example of government building something on behalf of the people.
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On behalf of the "people" ...sort of
Why the Republican Party Elected Lincoln
"From the time he entered politics in 1832, Abraham Lincoln aspired to such a position. That is why he became a Whig, the party of the moneyed elite. Lincoln was one of the most money- and power-hungry politicians in American history.
As soon as he entered the Illinois legislature he led his local delegation in a successful Whig Party effort to appropriate some $12 million in taxpayer subsidies for railroad and canal-building corporations. In his landmark book, Lincoln and the Railroads, first published in 1927 and reprinted in 1981 by Arno Press, John W. Starr, Jr. noted how one of Lincoln’s colleagues in the legislature said "He seemed to be a born politician. We followed his lead . . . " And they followed Lincoln down a road that would nearly bankrupt the state of Illinois. The $12 million was squandered: Almost no projects were completed with it; much of the money was stolen; and the taxpayers of Illinois were put deep into debt for years to come."
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I hear ya. It's like Ike and his interstate highways, though... what started off as a good tool for the military gets used by the general public and the economy grows productively.
The productive economic success generated by the railroad and the phenomenal economic boom that continues to blossom from investing The Peoples treasure in the interstate highway system is a compelling argument for government investment in both the internet and in access to it.
BS
How to Build a Railroad
Most business historians have assumed that the transcontinental railroads would never have been built without government subsidies. The free market would have failed to provide the adequate capital, or so the theory asserts. The evidence for this theory is that the Union Pacific and Central Pacific railroads, which were completed in the years after the War Between the States, received per-mile subsidies from the federal government in the form of low-interest loans as well as massive land grants. But there need not be cause and effect here: the subsidies were not needed to cause the transcontinental railroads to be built. We know this because, just as many roads and canals were privately financed in the early nineteenth century, a market entrepreneur built his own transcontinental railroad. James J. Hill built the Great Northern Railroad "without any government aid, even the right of way, through hundreds of miles of public lands, being paid for in cash," as Hill himself stated.[2]
The project simply required too much capital before any profit could be realized, so the rich folks of the day turned to the tool of government to make it happen.
In other words, there weren't going to be enough paying customers. That's another way to say it was a boondoggle.
