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American Economic History Assignments - Book Report/Review Example

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There are now making more money as the freight routes are busy. The once slow diesel tracks are now more efficient and powerful. Technology has propelled the railroad industry to the level of remote-controlled locomotives…
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American Economic History Book Assignments
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Download file to see previous pages The number of employees reduced from 1 million to 245,000. The track miles also reduced by a third and the track conditions worsened.
In the 500-page book titled, “Decline and Renaissance of American Railroads in the 20th Century,” was authored by Robert Gallamore and John Meyer. It gives a summary of the history of the railroads in addition to the lessons for future public policy giving an account of both the decline and revival of the railroad industry. The book highlights the situation in 13 chapters. John Meyer died in 2009 and that is why 3 of the book’s 14 chapters were authored by Gallamore. The two authors assert that excessive government regulation of railroad rates led to the decline of the American railway industry.
Gallamore and Meyer authored a valuable literature adding to the literature relating to the American railroad of the 20th century. John Meyer and Robert Gallamore were excellently qualified to author about the subject. Meyer, who died in 2009, was an economist and amongst the founders of the cliometrics. He provided majority of the empirical as well as theoretical inspiration to the deregulation. On the other hand, Gallamore, a student of Meyer who acted as his advisor as he wrote his PhD dissertation has years of experience in the railway industry. He actively participated in the formulation of the Stagger Act. Together, they had a unique pool of knowledge and insights. Their views have been critiqued by nearly all students of the railway policy.
Chapter one talks about the pain to the ‘Enduring American Railroads.’ The railroad made the United States. As the rail system flourished, it started to experience numerous problems that slowed down its growth. Stiffer regulations were introduced and also faced competition from both the air and road transport. Chapter two highlights the disbenefits of ...Download file to see next pagesRead More
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