ABSTRACT
Many operational aspects of surface transportation systems could be managed much better than today using the basic principles of market mechanisms. Market mechanisms remain fairly uncommon in the: transportation arena nonetheless. The originai justification offered for building free roads using indirect taxes on gasoline consumption was that interstate highways could not pay for themselves out of direct user fees such as tolls. Projected traffic on most facilities at that time was much too low to generate sufficient revenue to support the issuance of highway construction bonds. Privatization is an extreme measure, especially if one happens to work for a public entity that has been placed on the auctioneer's chopping block for public display prior to its subsequent sale to that particular private entity which comes along with the most ready cash or the best deal to buy it out. Partnerships may be public or private in orientation. Public partnerships are those inspired, led, and funded by public agencies.
