Why U.S. Infrastructure Costs So Much

Unions may be a factor.

The Second Avenue subway won't come cheap.

Photographer: Spencer Platt/Getty Images

The U.S. ought to be spending more on infrastructure. This is the view of all right-thinking people,  and as a right-thinking person I of course endorse it. With interest rates near record lows and the working-age population still, by historical and international standards, underemployed, governments (or in some cases entrepreneurs) should be borrowing much more to repave roads, shore up bridges, expand mass-transit systems, build new sewage-treatment plants, replace water mains, you name it. Such borrowing and spending would make the nation richer by stimulating economic activity now and paving the way for stronger economic growth in the future.

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