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The reason that mass transit is so profitable in those countries is because they can capture the externalities of their benefit through owning capital near stat
by mizzao 11y ago
The reason that mass transit is so profitable in those countries is because they can capture the externalities of their benefit through owning capital near stations.
http://www.theatlantic.com/china/archive/2013/09/the-unique-genius-of-hong-kongs-public-transportation-system/279528/ http://www.theatlantic.com/china/archive/2013/09/the-unique-...
In NYC, some rich landowners get all the benefit of public spending.
- yummyfajitas 11y agoThat's why mass transit is so much cheaper in every single country in the world? You've checked, and you are sure that Bangalore, Cairo, Barcelona, Singapore and Stockholm all follow this model? Incidentally, the MTA also does this: https://en.wikipedia.org/wiki/West_Side_Yard https://en.wikipedia.org/wiki/West_Side_Yard
- mizzao 11y agoThe West Side Yard doesn't look at all like the huge shopping malls that are owned by the MTR in Hong Kong...in fact, there's basically no commercial activity there.
- yummyfajitas 11y agoThe area surrounding the Delhi metro, the Istanbul metro and the Paris metro don't look like those either. Picking out a Hong Kong specific feature and using it to explain why NY has vastly higher costs than, well, everywhere, doesn't really make sense.