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Finally: The Truth About High-Speed Rail

“OF ALL the high-speed train services around the world, only one really makes economic sense,” The Economist observed last week, that one being the Tokyo-to-Osaka route. “All the other Shinkansen routes in Japan lose cart-loads of cash, as high-speed trains do elsewhere in the world. Only indirect subsidies, creative accounting, political patronage and national chest-thumping […]