The efficient participation of the railways in the market economy. Report of the 14th Round Table Conference on Transport Economics, Paris, June 2-4, 1971.

Fundamentals in the economic position are described of the railways in both the passenger and goods transport market, in connection with some of their characteristics, such as supply and demand relations. Factors, which influence transport demand, and ways of improving railway services are discussed. The problem of government intervention and regulation as regards investment and pricing policy is dealt with more in detail. Future developments in the railways, and the strategy to be adopted in a free market, are summarized. Discussions are included.