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Archive for Tag “property”
Supporters of laissez-faire capitalism are often asked, “If the government doesn’t build the roads, who will?” Having lived in traffic-infested Northern Virginia and Southern California, I have always said that private roads are the best argument for capitalism, not the thorniest objection.
In yesterday’s Wall Street Journal, historians Larry Schweikart and Burton Folsom note that history is on my side:
Henry Ford and dozens of other auto makers put a car in almost every garage decades before the National Interstate and Defense Highways Act in 1956. The success of the car created a demand for roads. The government didn’t build highways, and then Ford decided to create the Model T. Instead, the highways came as a byproduct of the entrepreneurial genius of Ford and others.
Moreover, the makers of autos, tires and headlights began building roads privately long before any state or the federal government got involved. The Lincoln Highway, the first transcontinental highway for cars, pieced together from new and existing roads in 1913, was conceived and partly built by entrepreneurs—Henry Joy of Packard Motor Car Co., Frank Seiberling of Goodyear and Carl Fisher, a maker of headlights and founder of the Indy 500.
Here’s Yaron on driving under capitalism: