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We know about the downsides now. For example, the New York system was private and actually paid for itself. New York subsidized the system. Now it's inefficient

• inferiorhuman 8y ago
  > For example, the New York system was private and actually paid for itself. Which New York system? The New York MTA is the result of consolidating multiple, unprofitable systems (e.g. LIRR, New Haven, Staten Island). Most were snatched out of the jaws of bankruptcy by the government as commuter service just isn't profitable much of the time. Let's not forget that the private rapid transit (BMT and IRT) didn't work out so well either (bankruptcy and poorly thought out contracts) and eventually was acquired by New York city.
• rayiner 8y ago
  The New York system was never really "private." The IRT and BMT were designed by the city, mostly built by the city, and were leased to the private operators. The IND was always municipally owned and operated. The city bought all of the systems in 1940, about 35 years after the first one was built. That is not to say you can't have private systems that work (Tokyo, Hong Kong). New York just isn't a particularly good example.