(Source: Wall Street Journal, April 6, 2021)
NEW YORK — Trains were the Teslas of the 1800s. Even after the wonder technology had been through multiple booms, busts and bankruptcies, railroads still made up more than half of U.S. market capitalization at the turn of the 20th century just as cars and planes were about to arrive on the scene. Their weight today is far more modest, but recent wobbles in the complex logistical web that delivers goods across the country and the world are a reminder of how valuable their systems still are.
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