The New Economic History of the Railways (Routledge Revivals)

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Focusing on the evolution of transport history, this book critiques both traditional and modern methodologies for assessing railways' economic contributions. It delves into counterfactual speculation and social savings measurement, providing a critical analysis of these approaches. Additionally, the author introduces an alternative perspective by evaluating the social rate of return on capital invested in railways, offering a comprehensive view of their impact on economic growth.