Krugman writes:
But the point is that there is a niche that could be served by fast trains.
That’s it? Billions upon billions of taxpayer dollars for a “niche?”
Oh, and by the way, Krugman’s economic analysis of why “fast trains” make sense would probably get an “F” in Econ 101. No discussion of costs, no discussion of actual demand for high-speed rial and an impossible assumption that a train will have an average speed of 200 m.p.h between cities. Other than that, Nobel worthy.