Selected Articles On Government Ownership of Railroads
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A few cities have owned gas- works, and there may be some two hundred cities in the United States owning electric-lighting plants.
The results of the policy are now clearly manifest. First, we observe vast waste. As these businesses are non-competi- tive, every attempt to force competition upon them means a waste of a great amount of labor and capital. One rail- way manager claims that if the railways of the country were operated as a unit, the saving would be $200, 000, 000 per annum. This may... be an exaggerated estimate, but the waste is enormous; and when we begin to estimate what it has been in the past in railways alone in the United States, we at once run up into the hundreds of millions.
A second result of the policy advocated, which now appears plainly, is the enormous and unprecedented inequal- ity in fortunes in the United States. A large proportion of our mammoth fortunes can be traced to this false policy. Had the post-office been private property, we would have had a still larger number of multi-millionaires who would have absorbed a large proportion of the benefits of im- provement in that business, the advantages of which have, through public management, accrued to the people at large.
What to read after Selected Articles On Government Ownership of Railroads?
You can find similar books in the "Read Also" column, or choose other free books by Edith May Phelps to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
A few cities have owned gas- works, and there may be some two hundred cities in the United States owning electric-lighting plants.
The results of the policy are now clearly manifest. First, we observe vast waste. As these businesses are non-competi- tive, every attempt to force competition upon them means a waste of a great amount of labor and capital. One rail- way manager claims that if the railways of the country were operated as a unit, the saving would be $200, 000, 000 per annum. This may... be an exaggerated estimate, but the waste is enormous; and when we begin to estimate what it has been in the past in railways alone in the United States, we at once run up into the hundreds of millions.
A second result of the policy advocated, which now appears plainly, is the enormous and unprecedented inequal- ity in fortunes in the United States. A large proportion of our mammoth fortunes can be traced to this false policy. Had the post-office been private property, we would have had a still larger number of multi-millionaires who would have absorbed a large proportion of the benefits of im- provement in that business, the advantages of which have, through public management, accrued to the people at large.
What to read after Selected Articles On Government Ownership of Railroads?
You can find similar books in the "Read Also" column, or choose other free books by Edith May Phelps to read onlineMoreLess
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