Iron Empires

Railroads changed America’s whole culture and economy, despite being a pretty big disaster in its first few decades. The industry was deeply in debt, bad at maintenance and rife with corruption. It was chaotic and terrible for travelers and the economy. But then they coalesced into America’s first mega-corporation. Pulitzer Prize-winning journalist Michael Hiltzik, who currently is a business columnist at the Los Angeles Times, explains the story in his book "Iron Empires: Robber Barons, Railroads, and the Making of Modern America." (Originally aired September 20th, 2020)