The U.S. experience with the rise and fall of its railroad industry illustrates that central planners are less likely than private investors to allocate investment funds into wealth-creating projects.
Indicate whether the statement is true or false
Question 2
Which of the following statements is supported by the research of economic historians?
(a) Canals and railroads were built with a mixture of private and public enterprise and
financing.
(b) Canals and railroads were built largely without U.S. government participation.
(c) Canals were built with public assistance, but railroads were built with almost no
government assistance.
(d) Railroads were built with public assistance, but canals were built by private enterprise.
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