A much cited essay by the UCLA Anderson Forecast, which concludes that the high-speed rail corridor connecting Tokyo and Osaka did not generate discernible economic benefits to the region it serves, from its opening in 1964 to 1990, is flawed. Based on the findings, the study's authors argue that California's high-speed rail system will not generate the significant economic benefits that the California High Speed Rail Authority's business plan predicts. However, the methodology adopted in the Anderson study is questionable and the comparability of Japan in the 1960s to California in the future is doubtful.

Read Regional Plan Association's critique of Anderson Forecast.

A recent survey conducted by the American Public Transportation Association reveals that a majority of people surveyed would be willing to choose high-speed rail over air or car travel if it were available. These results come at a time when the opportunity to expand mobility in the nation through investing in high-speed rail systems has never been greater, and confirms that many Americans understand the potential benefits and convenience of fast intercity train travel.

A new report released this week by the American Public Transportation Association entitled, "Opportunity Cost of Inaction: High-Speed Rail and High Performance Passenger Rail Service," addresses just that question: what does the U.S. stand to lose, both in terms of costs incurred and benefits forgone, by not investing in high-speed rail between its largest metropolitan areas? APTA's report concludes that the stakes are indeed high - on the order of tens of billions of dollars.

Watch America 2050 director Petra Todorovich present RPA's report, "Getting Infrastructure Going: Expediting the Environmental Review Process," followed by a panel discussion moderated by Newsweek's Megan McArdle, featuring Will Kempton, Diana Mendes, Dr. Peter Ruane, and Jim Tripp. The event was co-hosted by the Bipartisan Policy Center, Regional Plan Association, and the Eno Center for Transportation. Video after the jump.