the decline of the port authority of new york

Early successes (documented in the rise of the port authority) endowed the Port Authority with a great amount of capital heading into the 1960s, however, the law of diminishing returns made it much harder for the agency to leverage its resources with its past efficiency. The principle transit problem of the day — commuter railroads — were of no interest to the Authority, as the the railroads were simply huge money pits, and while the Authority had a plan to turn around the previously unprofitable airports, it had no such plans for the railroads. Politicians, however, were anxious to move the losses off their books, and argued that the Authority should use its surplus to absorb some of the losses.

Filed under: Economic Policy

the rise of the port authority of new york

I grew interested in the Port Authority of New York and New Jersey (previously the Port Authority of New York) after reading of its role in creating containerports in the The Box, an excellent history of “How the Shipping Container Made the World Smaller and the World Economy Bigger.” I picked up Empire on the Hudson (not recommended) and scoured the internet for information on the bi-state agency. I’ve quoted from the book below and condensed my learnings to two (free!) blog posts (the second is now up: the decline of the port authority of new york.)

Filed under: Economic Policy