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In Japan, most of the rail network was privatized in the 1990s and it's still the best in the world. Nothing tanked. Large department stores, malls, hotels, et
by twblalock 8y ago
In Japan, most of the rail network was privatized in the 1990s and it's still the best in the world. Nothing tanked.
Large department stores, malls, hotels, etc. are generally built into the major stations, and are often owned and operated by the rail companies. Most of them really do have drugstores, coffee shops and bakeries/donut shops. It's very convenient for commuters who need to shop on the way to/from work, and the money helps keep the trains running. If we did more of this in America, our transit companies would be better off.
- contingencies 8y agoYep, I am not table-thumping just drawing an amused sketch of the US stereotype. Regarding real estate as a funding source for transit, HK has a similar model. MTR corporation runs about seven malls I think.
- sirmarksalot 8y agoJapanese privatization is an interesting phenomenon, where crony capitalism gives the corporations immense power, but simultaneously a huge responsibility act like societal patriarchs. At least on the outside, a big corporation can't be seen as evil, and if they ever get caught betraying that trust, CEO suicides are not unheard of. On the bright side, it means the train lines get built and the fares are kept reasonable, despite monopoly power. On the negative side, people tend to trust these companies way more than is healthy, and if you try to do something that you're legally entitled to, but that a company doesn't like, you generally won't get much sympathy when it doesn't work out.