A bold plan for the United States to regain the lead in infrastructure development through privatization and public-private partnerships
America's infrastructure—its essential roads, bridges, ports, airports, power grids, and telecommunications systems—were once the pride of the nation and an example for the world. But now, after years of neglect and oversight, this infrastructure is crumbling and causing catastrophic changes in the US quality of life. Build seeks to explain how American infrastructure collapsed and what can be done to repair it.
In a series of colorful, rarely told cases, Build takes readers on a revealing tour behind the scenes of the successes and debacles of key infrastructure projects to show what works, why the United States has failed in recent decades to invest in infrastructure, and how the private sector can help revitalize the sector, spur job growth, and contribute to climate resilience.
Sadek Wahba examines the private origins of US infrastructure and the federally funded megaprojects that came after the New Deal, investigating the role the private sector can and should play in building infrastructure. By drawing comparisons with systems in the United Kingdom, France, India, and China, Wahba shows that while privatization and public-private partnerships cannot solve all infrastructure challenges, they are essential for closing funding gaps, overcoming political paralysis, and driving major infrastructure advances.
Build will appeal to readers interested in public finance, domestic policy, the role of the federal government, tax policy, and urban affairs.
Reviews
"In Build, Sadek Wahba makes a compelling case for greater private sector involvement in America's infrastructure investment. This book is essential reading for anyone who cares about our long-term success in the 21st century and beyond."—President Bill Clinton
"Wahba has created the how-to manual with his book on the history of infrastructure finance. This book will be used in business and public schools going forward."—Jeb Bush, former governor of Florida, former Republican presidential candidate
"This well-researched volume, brimming with historical data, explains how public-private partnerships (PPPs) have facilitated infrastructure investments in many other nations and why they have played a limited role in the US. It offers a menu of promising policy reforms that could unlock private funding and raise infrastructure investment."—James Poterba, Mitsui Professor of Economics, MIT, President & CEO, National Bureau of Economic Research
"Is there a less sexy word in English than 'infrastructure'? Maybe not. Yet Build provides a brilliant and captivating analysis of the critical role of infrastructure while offering vital insights to investors, policymakers, and everyone else. An excellent and engrossing read with engaging perspectives on a topic that may have otherwise been considered mundane."—Jamil Baz, managing director, PIMCO, author of Portfolio Selection and Asset Pricing: Models of Financial Economics
"A compelling read. Wahba makes the case that we desperately need a stronger, more modern infrastructure, from bridges and roads to broadband and digital technology. Then, applying lessons he's learned as one of America's most successful infrastructure entrepreneurs, he shows us how we can make it happen."—Mark A. Green, president and CEO, Wilson Center
"Wahba makes a well thought out and compelling argument for the careful use of P3s in successfully providing critical infrastructure. Wise decision makers should take heed and consider Wahba's suggestions so that once again Americans can rely on infrastructure that is second to none."—Norma Jean Mattei, Professor at University of New Orleans, former President of American Society of Civil Engineers
"Using insights from his years in academia, business, and policy, Wahba offers a compelling answer: the private sector and government must work together, each doing what it does best. Urgent reading for anyone who wants answers to one of the most vexing problems of our time."—Rajeev Dehejia, professor of public policy, co-director of the Development Research Institute, New York University
"Sadek Wahba's important new book could not have come at a better time. Using a case-by-case approach, Wahba provides what is easily the most comprehensive analysis of the problems facing U.S. infrastructure available today. He also lays out an actionable plan to better include private investment in our infrastructure that would address many of those endemic challenges."—Rick Geddes, PhD, Founding Director, Cornell Program in Infrastructure Policy (CPIP)
"Wahba makes an excellent case for why America needs to invest more in its crumbling infrastructure and suggests the funding model itself needs an update. He thoughtfully illustrates how and when to leverage private capital to ensure we have sufficient investment dollars to do so: where this has worked, where it has failed, and possible paths forward. Read Build: Investing in America's Infrastructure to understand how vast the investment challenge ahead remains and why it makes sense to partner with the private sector as a partial solution."—Heidi Crebo-Rediker, adjunct senior fellow, Council on Foreign Relations
"A remarkable work, both scholarly and accessible, written by an infrastructure guru. Wahba both diagnoses and prescribes a cure for America' chronic and debilitating underinvestment in critical infrastructure such as bridges, roads and water systems. In today's fiercely competitive world, with adversarial nation-states, Build is essential to America, and even to freedom itself."—Terence C. Burnham, associate professor, George L. Argyros College of Business and Economics, Chapman University
"An indispensable book for regulators, long-term investors and policy makers as it provides a roadmap for a partnership between public-private partnerships to deliver more efficient infrastructure outcomes. Wahba successfully provides constructive alternative solutions to America's infrastructure deficiencies from a global perspective."—Michael Pascutti, visiting lecturer in economics, Yale University
"Whether you're a policy maker or investor, Build is an invaluable guide and comprehensive resource to better understand the complex history, vast opportunities and great challenges facing America's infrastructure. Build is a compelling case for the United States to aggressively invest in infrastructure to remain competitive and secure its future."—L. Felice Gorordo, US alternate executive director for the United States at the World Bank
"Build invites the reader to consider global infrastructure through a multiplicity of lenses: economic, geopolitical, socioeconomic, and ideologic. Wahba has a unique understanding of the challenges facing infrastructure stakeholders. He offers pragmatic solutions based on case studies of global best practices and a frank, data-driven "lessons learned" approach. A must have on any infrastructure investor's bookshelf."—Tara Higgins, global co-leader of Energy, Transportation & Infrastructure Group, Sidley Austin LLP
"A detailed, comprehensive review of the battle to get sufficient funding to rebuild the American infrastructure. Despite the excellent bill the Biden Administration passed into law, the fight is an ongoing one that will require continuing focus."—Ed Rendell, former governor of Pennsylvania
