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The World's First Railway SystemEnterprise, Competition, and Regulation on the Railway Network in Victorian Britain$
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Mark Casson

Print publication date: 2009

Print ISBN-13: 9780199213979

Published to Oxford Scholarship Online: September 2009

DOI: 10.1093/acprof:oso/9780199213979.001.0001

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Introduction and Summary

Introduction and Summary

(p.1) 1 Introduction and Summary
The World's First Railway System

Mark Casson (Contributor Webpage)

Oxford University Press

This chapter discusses controversies over the performance of the British railway system. It introduces a new source of evidence: the deposited plans of railway companies. This source is used to construct a detailed counterfactual alternative to the actual network. The British railway network reached its peak about 1914, and so this is the date at which the networks are compared. The results of the comparison are summarized. The principal discrepancies between the actual and counterfactual networks are then explained in terms of regulatory failure.

Keywords:   railway, network, counterfactual, regulation, deposited plan, performance

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