History of U.S. infrastructure policies: A new asset class for institutional investors
by Lawrence Souza, Nathaniel Derrick, Michael Mikacich and James Person
Over the past 140 years, the United States has gone through these 11 phases of infrastructure development, and at each one of these phases there has been a different mix of financing strategies from full government participation, financing and administration; to public-private sector partnerships, participation, financing and administration; and finally to the modern era of telecommunications infrastructure, as reflected in the internet and edge computing, hyperscale data centers, and micro–data center networks.