1. General Electric and other firms have been doing well over the years. Yet the railroad companies have declined and are not contributing to transportation the way they did 100 years ago. How and why might this have happened? Is this a natural decline in the product life cycle or did they bring this on themselves? Discuss thoroughly.

General Electric and other firms decline of railroads is natural. As with everything else, our country is changing more and more. The railroad, like the rest of society, has seen major changes in technology. Newer and better ideas and products are being invented. There are a variety of reasons for the dramatic change in the fortunes of the railroads. The biggest factor is that transportation technology overtook the trains. In the early 1900s there were no paved highways and few cars and trucks. Almost everyone traveled by train. Today most people travel by automobile or airplane. Trucks today haul much more freight than railroads. The......

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Title: Labor Economics
Approximate Word Count: 1028
Approximate Pages: 5 (250 words per double-spaced page)

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