Larry Schweikart and Burton Folsom: Obama's False History of Public Investment

Wall Street Journal ^ | August 5, 2013 | Larry Schweikart and Burton W. Folsom Jr.

[GeronL]

I mean those who did not use the road at all, not just the ones who went around the toll collectors.

[LS]

I wasn’t clear; they would walk through the woods only far enough to get around the turnpike then get on the road.

[GeronL]

That I would agree with, the Pike needed to hire an enforcer. :p

[VerySadAmerican]

I seriously doubt obama has ever driven a car down any highway.

[logician2u]

Most Americans take for granted that when something big needs to be built, the government--Federal more likely than state--will do it.

This is a result of 80+ years of government projects that, while often amazing and fascinating and even wonderful in the minds of the susceptible, took money out of the productive (ie., private) sector and used it for whatever the politicians thought would be most appropriate . . to win votes. As Bastiat might have remarked, it's an example of the seen versus the unseen; we only see what was accomplished, not what might have been done had the same resources been directed elsewhere, as dictated by the market.

It will take a massive educational campaign if we are ever to reawaken the public to the advantages of having private enterprise instead of government bureaucrats and politicians planning, financing, constructing and operating--for profit--such things as hydro power plants, railroads, highways, airports and even space exploration.

I can't locate the exact quote, but Henry Ford once suggested, in jest, a solution to the road congestion that accompanied the great number of cars he and other automakers were producing for the public: Let the government take over building the automobiles while private enterprise builds the roads.

A man well ahead of his time . .

[AlanGreenSpam]

“Investment” is a CODEWORD for “Spending”

Just like all other slick democrat catchphrases:

“affirmative action” = “state-sanctioned racism against Whites”

“diversity” = codeword for “non-whites”

[upchuck]

I mean those who did not use the road at all, not just the ones who went around the toll collectors.

Shunpiking is not using the road at all. Check out the website. Note the route the fellow uses here. Excerpt:

For example, I frequently have to drive between New York City and Philadelphia. There are several ways to do this, but only one is both toll-free and reasonably direct: taking either the Lincoln Tunnel or the Holland Tunnel (preferably the latter because it shortens the distance a bit) from Manhattan to New Jersey, taking U.S. Route 1 to Lawrenceville, New Jersey, and then picking up I-95 to avoid the toll bridge over the Delaware River. There are other routes that would save me time, such as taking the Verrazano Bridge to Staten Island, then taking the Goethals Bridge to the New Jersey Turnpike. But the tolls along those routes would add at least $20.00 - $30.00 to the cost of my trip. I'd rather spend that money on a decent meal than give it to the government.

One thing he glosses over: the tunnels from NYC to New Jersey are not free. Granted, they only charge one way, but, coming or going, he'll have to pay.

[GeronL]

The idea that everyone going from A to B owes you money even if they did not use your road is crazy.

[Elsie]

Larry Schweikart and Burton Folsom: Obama's False History of Public Investment

So?

What difference does it make?

He IS the President now; and WON'T be the President in '16.

We need to STOP or slow down anything ELSE he tries to do; while attempting to REVERSE stuff he's already done!

[Elsie]

One exception was in Michigan, where the state tried to build two railroads but lost money...

In Indiana, it was a canal that did us in.

---

(We've seem to have FORGOTTEN that little lesson from history!)

[Elsie]

Don’t know if you want to call them “subsidized,” but they had state bond guarantees.

Heads up; Detroit!

[conservatism_IS_compassion]

Wonderful article, Larry!! Really excellent. I saw it in print yesterday, and toyed with the idea of posting excerpts from it. But neverdem did it, fine job.

Slightly off topic, BO Plenty is as wrong about “you didn’t build that” as he is about Trayvon Martin. There we have a thug who was caught in school, and legally should have been in juvenile detention, but the school didn’t want to punish “too many” thugs with the superficial characteristic of looking "like Obama’s imaginary son.” And the result is that Zimmerman was mugged, and Martin was killed. This administration responds by insisting even louder that “too many blacks are being punished.”