Earlier quoted context omitted.
I don't disagree with this sentiment, but it's worth pointing out that nearly all transportation projects from the "old days" around the world were done by private companies, and often met a swift end in bankruptcy. Creditors lost a lot, but the assets were then picked up by others, and refined through years of trial and error into endeavors of modest profitability. Only our sepia-colored glasses and the survival bia…
I'll take issue with your thesis. I was once standing in Marin county overlooking the Golden Gate bridge, there I read a plaque describing how the bridge was built ahead of schedule and under budget - in the 1930s (no computers!). Behind the Golden gate bridge in the distance you see the Bay bridge, built with tremendous cost overruns and delays measured in billions of dollars and many years, respectively. I'll make…
The former was a relatively standard tunnel using standard machines, while the latter was the largest single-bore tunnel ever attempted.