Category Archives: Technology and Society

How Bad A Shape Is The Music Industry In?

Worse than you think.

I’m having trouble working up much angst about this. But then, I’ve never been a fan of Big Music.

People will continue to make music, and sell it. But they’ll have to rely more on talent than hype, and few will get as unreasonably rich as they did in the past on it. More will be doing it because they want to make music. And the general collectivist inclination of political contributions of the industry and individual “artists” (to use the term loosely in many cases)) is just a bonus.

The Lunacy Of Federal High-Speed Rail

A take-down by Robert Samuelson.

[Update while later]

Florida Governor Rick Scott has turned down funding for it.

* My decision to reject the project comes down to three main economic realities:

o First – capital cost overruns from the project could put Florida taxpayers on the hook for an additional $3 billion.

o Second – ridership and revenue projections are historically overly-optimistic and would likely result in ongoing subsidies that state taxpayers would have to incur. (from $300 million – $575 million over 10 years) – Note: The state subsidizes Tri-Rail $34.6 million a year while passenger revenues covers only $10.4 million of the $64 million annual operating budget.

o Finally – if the project becomes too costly for taxpayers and is shut down, the state would have to return the $2.4 billion in federal funds to D.C.

That last “if” should be a “when.” Good for him. Too bad we don’t have as much sense in Sacramento.

[Update a couple minutes later]

This seems to have been influenced by my friend (and fellow member of the Competitive Space Task Force) Bob Poole of the Reason Foundation:

the Reason Foundation issued its report nearly two weeks ago. Using estimates for a proposed rail line in California, it projects the Tampa-to-Orlando link could cost $3 billion more than estimated.

Research by the Reason Foundation and the study’s main author, Wendell Cox, regularly offers a skeptical view of rail, so the findings are not particularly surprising. What’s notable is the work was overseen by Robert Poole, a foundation director who served on Scott’s transition team for transportation issues.

“It’s understandable that some are dreaming of flashy high-speed rail trains carrying tourists and residents between the two cities,” Poole said in a news release. “When you look at realistic construction costs and operating expenses you see these trains are likely to turn into a very expensive nightmare for taxpayers.”

Hey, Jerry, I’m sure Bob’s available for a similar analysis for CA. In case you haven’t noticed, you have budget problems, too.