Book Description

This study investigates and analyzes historical episodes in America in which the federal government undertook public-private efforts to complete critical activities valued for their public good. This combination largely resulted from a lack of either sufficient political will to fund them entirely out of the public treasury or insufficient profit motive for private firms to undertake them for purely business reasons. The six case studies include the following: 1) the development of the transcontinental railroad, supported by a unique land-grant approach to subsidy; 2) support for the airline industry through legislation, appropriate regulation, and subsidies to grow a robust air transport capability; 3) the regulatory regime put into place with the rise of the telephone industry and the creation of a government-sponsored monopoly that eventually had to be broken up; 4) government sponsorship of Antarctic scientific stations that evolved into a public-private partnership (PPP) over time; 5) the fostering of a range of public works projects and their success or failure over time; and 6) the establishment of scenic and cultural conservation zones in the United States and ways to balance economic development with preservation.