What prizes when one subsidizes? Some lessons from the past. Paper presented at the 54th Annual Meeting of the Transportation Research Board (TRB), Washington, January 1975.

Past U.S. subsidy programs in both agriculture and transportation are reviewed to establish facts about federal subsidies and apply these facts to current federal transportation subsidy programs. Another approach is suggested, namely that federal subsidization can be made strictly in terms of local advantage. An argument for such an approach is presented.