Tuesday, 22 April Railways: Passenger numbers rose from Although some companies created new traffic, the principal aim was to supply improved facilities for existing customers.
This interesting extract from the political economist Friedrich List, explains some of the economic benefits of railways: Railways would carry wood, turf and coal at less than half the present costs.
Bavaria, where flour, meat and other foodstuffs are 50 — per cent cheaper than in Leipzig, could export its surplus to the Erzgebirge, the Elbe and the Hanseatic cities.
Cheaper food and fuel would partly enhance the well-being of the working classes, and partly lower money wages, increase population and increase the extent of industry. Cheap building materials and low money wages would encourage building and lower the rents in the new and more distant parts of the city.
I do not doubt for one minute that this increase in value in Leipzig alone would in a few years exceed the total capital costs of the new railways.
New technology leading to lower average cost for business. The introduction of the railways enabled a substantial reduction in costs of transport, leading to lower prices of goods in shops.
The new stream railway technology quite possibly had a bigger impact on business than recent technological innovations, such as micro-computers and the internet.
Theory of comparative advantage. Presumably, exporting food, would give Bavaria more income to spend on goods and services produced in the cities.
This theory of comparative advantage is no use, if there are prohibitive transport costs. The railways enable these potential gains to be materialised. Your wages go further, if the railways make everything cheaper. The author is perhaps suggesting wages can be cut because the price of goods haven fallen.
Greater choice of goods and services. The railways enable a greater choice of goods. Fish and chips became a popular meal when people could now transport fresh fish in a day. The diet of many people improved after the introduction of the railways because a greater variety of fresh food could be brought in.
The railways led to the creation of new industries like tourism. Coastal towns like Blackpool and Scarborough became popular seaside resorts.
The consequence of lower prices and lower costs is to encourage investment and spending. Railways are increasing the productive capacity of the economy, shifting aggregate supply to the right.
Other economic consequences of the Railways Created new journeys. Many felt the railways would take passengers from other forms of transport like the stagecoach, canal boat and omnibus. But, the railway created a new latent passenger demand.
People could afford to take a train for a shopping excursion they never would have considered.
It is like the modern phenomena of building new roads and finding they soon fill up as journeys increase. Before the railways most people lived within walking distance from their place of work.Although developed only in the past 20 years, Chinese high-speed rail (HSR) has overtaken many of its forerunners in its unprecedented scale.
However, such a scale raises questions about its implications for regional economic development. Previous studies have discussed the impact of HSR at the regional and city levels, but few have . Topics: Rail transport, Rail tracks, Derailment Pages: 4 ( words) Published: December 13, Hypotesis: Economic impact of Railways in India Railroads, therefore, became an inevitable option for the newly-developing giant in asia.
The economic impact of UK rail This major Oxford Economics study for the Railway Industry Association investigates the support provided to UK GDP, jobs, and taxes by the country's rail .
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The effect of Scenario 2, which results in a need for a very high level of.
Rail Supply Economic Impact Study Tracking the Power of Rail Supply: The Economic Impact of Rail Suppliers in the U.S. is a major new study that quantifies the economic and workforce impact of the products and services produced by the railway supply industry in .