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Clued-up thinking should make capital immobile in time of crisis

Six months ago or thereabouts I recorded in this column my enthusiasm for a page in the Sunday Times devoted to the proposition that railways were out of date and, instead of spending £33 billion on bringing them up to the state they were in back in 1914 - when (railway buffs assure us) everything worked perfectly, Thomas the Tank Engine-style - we should tarmac over the tracks and rely on minibuses instead. A subsequent edition of The Times took a similarly bracing line with a ...

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