A World Class Transportation System: Transportation Finance for a New Economy
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A World Class Transportation System: Transportation Finance for a New Economy
The railroad was the disruptive technology. It reached into every aspect of industry, commerce, and daily life, a complex network emanating from the center of the largest cities to the remotest countryside. Railroads led to, in Karl Marx’s words, “the annihilation of space by time” and the “transformation of the product into a commodity.” A product
... See moreOn June 11, 1881, the road was purchased outright by the Compagnie Universelle du Canal Inter-océanique for $20 million. Park himself cleared about $7 million on the transaction. Years later, in 1904, when the United States purchased all the holdings of the long-since bankrupt French canal company—its equipment, properties, the unfinished excavatio
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