2/2: ClassicRichardEpstein: How to spend infrastructure. @RichardAEpstein (Originally aired August 9, 2021.)

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@Batchelorshow

2/2: ClassicRichardEpstein: How to spend infrastructure. @RichsrdAEpstein (Originally aired August 9, 2021.)

https://www.hoover.org/research/infrastructure-distortions

Pro:  Once those roads, rails, pipes, and wires are acquired by the state, they are often subject to traditional common carrier obligations of universal service at reasonable rates, whether the state retains operational control over these facilities or transfers them to private parties. The use of state power for infrastructure is thus tied to a credible theory of market failure.