Modern Transport Since 1700: A Momentous Achievement

21 Pages Posted: 11 Jun 2012

See all articles by Daniel E. Bogart

Daniel E. Bogart

University of California, Irvine - Department of Economics

Date Written: June 11, 2012

Abstract

The transportation sector experienced dramatic changes during the last 300 years. This essay reviews the major technological and infrastructural developments including the transition from roads to railways to automobiles, the rise of steamships, and the emergence of air-travel. Changes in the transport market are also examined, including trends in prices, consumption, and regulation. The role of government policy is given special attention as market power, network design, and operational inefficiency have been important historically. Lastly the essay discusses how transport improvements have played a crucial role in economic growth. Various approaches to quantifying the contribution of transport innovations are reviewed.

Keywords: Transport, Regulation, Economic Growth, Policy, Infrastructure, Social Savings

JEL Classification: N7, O2, R4

Suggested Citation

Bogart, Daniel E., Modern Transport Since 1700: A Momentous Achievement (June 11, 2012). Available at SSRN: https://ssrn.com/abstract=2082161 or http://dx.doi.org/10.2139/ssrn.2082161

Daniel E. Bogart (Contact Author)

University of California, Irvine - Department of Economics ( email )

3151 Social Science Plaza
Irvine, CA 92697-5100
United States

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