U.S. public transit agencies serve fewer riders than their international counterparts, yet cost more money than anywhere else, with annual operating budgets that exceed billions of dollars. But whether it’s the rampant crime and poor hygiene or just basic on-time performance and fare collection, public transit in America ranks amongst the worst in the developed world in nearly every metric.
Every year, they set a global record for how much money they lose. Adjust for currency, normalize into percentages, and the answer is the same - no one offers less, spends as much money, and still somehow loses more on public transit than America.
What many Americans fail to understand is public transit requires good governance. With the wrong leaders, broken incentives, complacency, and systematic corruption, more money just leads to more waste.
In this episode, we dive into transit systems around the world to expose the uniquely rotten economics of American public transit—where unions drain public funds, stifle innovation, and cut backroom deals with politicians to protect their own interests.
Modern MBA
U.S. public transit agencies serve fewer riders than their international counterparts, yet cost more money than anywhere else, with annual operating budgets that exceed billions of dollars. But whether it’s the rampant crime and poor hygiene or just basic on-time performance and fare collection, public transit in America ranks amongst the worst in the developed world in nearly every metric.
Every year, they set a global record for how much money they lose. Adjust for currency, normalize into percentages, and the answer is the same - no one offers less, spends as much money, and still somehow loses more on public transit than America.
What many Americans fail to understand is public transit requires good governance. With the wrong leaders, broken incentives, complacency, and systematic corruption, more money just leads to more waste.
In this episode, we dive into transit systems around the world to expose the uniquely rotten economics of American public transit—where unions drain public funds, stifle innovation, and cut backroom deals with politicians to protect their own interests.
1 week ago | [YT] | 172