Category: Transportation

1

Urban Transportation Projects as Market Failures

The Seattle Times today presented one of the best arguments I have seen for terminating the Monorail Project: • Operations would almost certainly have to be subsidized somehow, as no public-finance expert interviewed by The Times believes the monorail’s claims that it can support itself from fares, ads and self-generated revenue. “Typically, urban transportation projects in the United States are not self-supporting,” said Scott Trommer, senior director at Fitch Ratings, one of the nation’s three bond-rating agencies. “They require subsidy support, from some kind of dedicated tax or government grants.” And, terminate all the other analogous projects. Well, at least,...

2

Incomplete Picture for Viaduct Funding

In a Seattle PI guest editorial titled Complete Picture for Viaduct Funding Davd K.Y. Tang and Steve Leahyin urge Washington residents to contact their congress critters and ask them to support federal funding for the Seattle Viaduct project. Why, though, would anyone pick up the phone, write an email, etc., based on the incomplete information in this piece? How much money are they asking for? What will be the total cost of the project? How will the so called regional share be funded? Why should federal money be involved at all? Could the entire project be funded by tolls? If...