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California Bullet Train Off Target
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<p>[quote user="henry6"]</p> <p>Compare LA-SF with other city pairs and corridors: St.L-Chi. Chi-Det; Boston-NY; NY- DC, etc. Then get a market study and look out 25, 50 and 100 years and what do you see? Then look at your short and long term options and decide on plans. [/quote]</p> <p>John Maynard Keynes stressed the point that humans are not very good at long range projections. If you think long range plans work, take a look at the five year plans that were implemented by the Soviet Union, China, and Cuba. They came to realize the long range planning did not work so well. These countries broke out of their economic doldrums when they largely gave up on long range central planning and allowed market forces to work it out.</p> <p>As someone who spent the better part of his working career in the electric utility industry, where the ability to project power requirements five to ten years in the future was necessary, because that is the lead time require to build a large steam electric power plant, we got it wrong nearly as often as we got it right. And we were one of the best run electric utilities in the country. If I had a thousand dollars for every power plant, transmission line, sub-station, etc. that was on the drawing boards and was cancelled because the models got it wrong, I would be well off.</p>
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