Last Exit

Privatization and Deregulation of the U.S. Transportation System

By: Clifford Winston

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Paperback | 20 September 2010

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188 Pages

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22.9 x 16.0 x 1.4

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Although the Obama administration is trying to get the public excited about high-speed trains that travel over 300 mph, most travelers would gladly settle for roads with fewer potholes and flights that depart on time. Whether traveling for work or pleasure, most Americans are frustrated by a variety of problems with their transportation system and disillusioned by public officials who seem incapable or unwilling to enact policies that would improve their travel experiences. Vast economic inefficiencies and a lack of innovation are the legacy of a transportation policy still seeking to find the right balance of public and private provision.

In "Last Exit," Brookings analyst Clifford Winston reminds us that transportation services and infrastructure in the United States were introduced by private firms and that the case for public takeover of private systems was weak. Accordingly, he assesses the case for privatizing and deregulating the system to greatly increase Americans' satisfaction with how they and their goods move throughout the country.

Winston proposes timely experiments to demonstrate the benefits of privatization as the nation explores ways to relieve its budgetary pressures and to spur innovations that could increase economic growth. At the same time, such experiments may lead to a fundamental transformation of urban, intercity, and international travel.

Industry Reviews

"A half-century of economics research, much of it from Brookings, convincingly shows that deregulation of transportation services delivered enormous benefits. Last Exit argues persuasively that these benefits are limited by continuing public provision of infrastructure and regulation or public provision of some services. Clifford Winston proposes experiments in private provision of airports, highways, and urban passenger transportation, and more efficient usage pricing for infrastructure, to test the strong theoretical case for increasing the scope of privatization and deregulation. These provocative but measured proposals provide the agenda for a serious national debate on the next steps in reforming transportation policy." -Roger Noll, Stanford University

"Clifford Winston offers a blueprint for increasing the role of the private sector in providing U.S. transportation infrastructure. He makes the case that public sector exit can improve economic efficiency, speed technological advance, and help solve current fiscal pressures." -Betsy Bailey, University of Pennsylvania

"Winston pulls together the first comprehensive accounting of the many inefficiencies that arise from current public policies in transportation. The bill -amounting to $100 billion per year plus reduced innovation -will hopefully stimulate some of the experiments he advocates with increased private provision of transportation." -Tony Gomez-Ibanez, Harvard University

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Acknowledgments	p. ix
Back to the Future to Improve U.S. Transportation	p. 1
Motivating the Case for Privatization and Deregulation: U.S. Transportation System Inefficiencies
Intercity Transportation under Partial Deregulation	p. 21
Highways	p. 38
Urban Transit	p. 61
Airports and Air Traffic Control	p. 76
Constraints on Efficient Reforms	p. 102
Privatization and Deregulation: Evidence of Economic Effects and Implementation
Lessons from Deregulation of Intercity Transportation	p. 113
Theory and Evidence on the Economic Effects of Privatization	p. 125
Privatization Experiments	p. 145
Conclusion	p. 163
References	p. 167
Index	p. 179
Table of Contents provided by Ingram. All Rights Reserved.

Last Exit

Privatization and Deregulation of the U.S. Transportation System

At a Glance

Paperback

Industry Reviews

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How to return your order

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