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Alexander J. Field : High Speed Rail May Boost Employement : Bellingham Herald
Monday, Mar. 21, 2011
"High-speed rail projects could create jobs and stimulate the economy in the short run," said Alexander J. Field, the Orradre Professor of Economics, in an opinion piece appearing in the Bellingham (WA) Herald last week.
A leading economic historian, Field said the state and federal governments have a "long and largely successful record of supporting infrastructure development," which have generated private-sector benefits in the past.
"These projects would, of course, add to the deficit and concerns about its long term growth, particularly that attributed to health care, are merited," he continued. However, "[i]f the country is going to is going to incur new debt, it is better to do so to acquire well-chosen infrastructure and equipment than to fund consumption."
Field is the author of several books, and his most recent, "A Great Leap Forward: 1930s Depression and U.S. Economic Growth," will be released next month by Yale Press.