Barron's editorial today by Thomas G Dolan outlines the benefits of tapping private investors to fund the growth or new public infrastructure and maintenance of aged infrastructure in the US.
"... there is a crying need for infrastructure investment.
But these projects should not be managed by the same reckless officials who have allowed the infrastructure to deteriorate. For decades, they have been too responsive to business interests seeking subsidies for new roads to serve their new developments, which often are unnecessary and usually short-change needed maintenance.
To build a new highway or to replace a dangerous bridge, private investors should be free to raise their own money with the intent of making profits by collecting tolls, fares, and user fees of all kinds. And these developers should be protected from rapacious regulators and confiscators like those who fixed fares below cost and then took over bankrupt transit lines and bus companies...."
March 26th 2016U.S. Infrastructure Needs a New Approach
To repair crumbling roads and bridges and other things, the first task is to make them more efficient.
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