The Train, a new 5 minute video by Fred Harrison

Harrison’s points include:-

1. Passengers pay twice
2. Trains pay for themselves
3. Trains more than covers their costs
4. Governments can pay for railways without taxing their citizens
5. Investment in railways yields huge profits
6. The problem is the way governments pay for the capital they invest in the tracks and rolling stock
7. Payback is like winning the lottery
8. The Jubilee line raised productivity in the London economy
9. [Re the Jublilee Line] Every one pound invested provided a payback of 4 pounds
10. That is what railways do, make the economy more efficient
11. Who pocketed the fat profit? Not the shareholders, not the taxpayers, wages were not raised
12. Profits cascaded into the profits of the land owners
13. Taxes destroy jobs

…. and he’s right, you know.

EarthSharing has more about earth-based economics here.