Out of Control

The International Herald Tribune reports on a World Banks studyon the privatization of British Rail. While very critical of the process Britain used there have been many good outcomes.

The British accident rate is now equal to rates in other European countries, and is lower than at any time under British Rail, the old nationalized system formed in 1947.

. . .

The North American and Japanese cases show that some of the most successful and intensively operated railroads in the world, freight and passenger, are privately owned and managed.