The World'S First Railway System "Enterprise, Competition, And Regulation On The Railway Network I"

Enterprise, Competition, And Regulation On The Railway Network I

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Casson, Mark

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ISBN:9780199213979
Editorial: Oxford University Press
Fecha de la edición:2009
Encuadernación:cartone
Dimensiones: 0 cm x 0 cm
Nº Pág.:544
Idiomas:Inglés,Ingles

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/ Historia Económica

The British railway network was a monument to Victorian private enterprise. Its masterpieces of civil engineering were emulated around the world. But its performance was controversial: praised for promoting a high density of lines, it was also criticised for wasteful duplication of routes.

This is the first history of the British railway system written from a modern economic perspective. It uses conterfactual analysis to construct an alternaive network to represent the most efficient alternative rail network that could have been constructed given what was known at the time - the first time this has been done. It reveals how weaknesses in regulation and defects in government policy resulted in enormous inefficiency in the Victorian system that Britain lives with today.