American railroads : decline and renaissance in the twentieth century by Gallamore, Robert E. ISBN 9780674369382, 0674369386 instant download

American railroads : decline and renaissance in the twentieth century by Gallamore, Robert E. ISBN 9780674369382, 0674369386 instant download

Overregulated and displaced by barges, trucks, and jet aviation, railroads fell into decline. Their misfortune was measured in lost market share, abandoned track, bankruptcies, and unemployment. Today, rail transportation is reviving. American Railroads tells a riveting story about how this iconic industry managed to turn itself around.

This is a book focused on economics. Primarily the economics of freight railroading in the US and the futile, counterproductive attempts by the government to alter economic reality though laws and regulations. The focus is on such things as Ramsey Pricing, Marginal Cost, Value of Service Pricing, Demand-Based Pricing, and personal income redistribution by the government to politically favored groups though its control of rail rates. Given that, it does provide a great historical record of US railroads in the 20th Century. It is a great historical record because, through its focus on economics, it gives an explanation of why the things that happened did happen. Bad and counterproductive economic regulation put the US railroads in a "Survival Mode" in which they could not finance improvements or add capacity. Those of us who live in the United States are still paying the price for that today.

Winner of the 2016 George W. and Constance M. Hilton Book Award from the Railway and Locomotive Historical Society. This award is given for an outstanding work of lasting value to the interpretation of North America's railroading history.

About the Author

Robert E. Gallamore is a nationally recognized expert on railway and intermodal economics, technology, and safety.