The first railroad over the Appalachians bankrupted the first two groups of investors. The third attempt managed to run a line through and it changed the world. Because unfathomable amounts of cheap grain from Ohio appeared on the international market.
Big issue with rail is there are huge network effects are impossible to price in pure market. Which is why except for the US and Britain most countries built state owned rail. Britain and the US eventually nationalized or quasi nationalize rail. And attempts at privatization seem to fail.
In the case of the US I think you mean Amtrak is nationalized? But that’s passenger rail. The us has a private freight rail system, which is from what I understand, is one of the best in the world.
The US nationalize Amtrak because the railroads were going to stop doing passenger service all together. But 100 years ago rail in the US and Britain were busted out. The British nationalized their rail. The US turned rail into a semi-regulated monopoly. Notable in the US due to geography the economy depends on freight rail to move bulk goods at least part of the way.
Writings I've seen basically say transportation systems fail under the free market eventually.
US railroads love the pat themselves on the back for their cargo rail. They are very profitable for the investors of those rail networks. But calling them best in the world is nonsense.
They just have lots and lots of old infrastructure that they can use and they don't need to share their rail with passenger travel, and their only responsibility is making a profit so they can cut anything away that isn't profitable.
Of course that then just leads to more traffic and trucks on the road. So far worse for the nation as a whole.
Big issue with rail is there are huge network effects are impossible to price in pure market. Which is why except for the US and Britain most countries built state owned rail. Britain and the US eventually nationalized or quasi nationalize rail. And attempts at privatization seem to fail.