A private highway is a highway owned and operated for profit by private industry. Private highways are common in Asia and Europe; in addition, a few have been built in the United States on an experimental basis. Typically, private highways are built by companies that charge tolls for a period while the debt is retired, after which the highway is turned over to government control. This allows governments to fulfill immediate transportation needs despite their own budget constraints, while still retaining public ownership of the roads in the long term.
An obstacle to private highways is that government regulation can stifle price flexibility and introduce negotiation and paperwork requirements that increase operational expenses. In addition, private highways lack some advantages that governments have, such as sovereign immunity against liability for accidents and the ability to issue tax-exempt securities.
Free-market roads are advocated by libertarians, who consider them more efficient and safer than public roads.
Read more about Private Highway: History, Recent Trends
Famous quotes containing the words private and/or highway:
“A cosmic philosophy is not constructed to fit a man; a cosmic philosophy is constructed to fit a cosmos. A man can no more possess a private religion than he can possess a private sun and moon.”
—Gilbert Keith Chesterton (1874–1936)
“In one notable instance, where the United States Army and a hundred years of persuasion failed, a highway has succeeded. The Seminole Indians surrendered to the Tamiami Trail. From the Everglades the remnants of this race emerged, soon after the trail was built, to set up their palm-thatched villages along the road and to hoist tribal flags as a lure to passing motorists.”
—For the State of Florida, U.S. public relief program (1935-1943)