Is the money spent to regulate railroad safety being spent in the most efficient way to reduce the risks of death and injury in society?
Read the Metrolink case study beginning on page 342 of the text as well as the Reuters article on train safety rules: Buffett May Benefit as Train Lobby Bids to Weaken Safety Rule.
In your post, consider the following questions:
- What was the cause of the Metrolink accident and could it have been avoided?
- Is the high cost of train control justified by the likely safety gains for passengers?
- Is the money spent to regulate railroad safety being spent in the most efficient way to reduce the risks of death and injury in society?
- If you had been a lobbyist wishing to influence safety legislation after the crash, what would your strategy have been?
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