Rail Relevancy in the 21st Century and Beyond

Seminar paper from the year 2018 in the subject Economics - Industrial Economics, grade: 1.3, , language: English, abstract: Information, goods, and people are moving too fast in this competitive 21st century. In 2005 alone, more than 9.7 billion trips were made through public means. Today, travelers are offered different and competing modes of transportation. The competitive nature of the industry results in the modernization and expansion of every part of the system (APTA, 2007). Rail transport is not left behind.The Mohawk and Hudson Railroad in New York opened in 1831 as the US first railroad. The objective of the railroad was to supplement Erie Canal travel that runs from Schenectady to Albany. The railroad brought to the nation transport means that had never been seen before. It carried everything from passengers to mail to livestock to many corners of the country. Since then, the United States has seen almost 800 different rail companies blossoming 70 defunct resulting on the question of the sustainability and relevancy of railway in the 21st century.