Ludwig von Mises: "Despots and democratic majorities are drunk with power. They must reluctantly admit that they are subject to the laws of nature. But they reject the very notion of economic law . . . economic history is a long record of government policies that failed because they were designed with a bold disregard for the laws of economics." - Austrian Economics: An Anthology
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|Ludwig von Mises||In the United States the competition to the railroadsin the form of busses, automobiles, trucks, and airplaneshas caused the railroads to suffer and to be almost completely defeated, as far as passenger transportation is concerned.||Economic Policy|| p. 5||Railroads