Public Ownership Has Created The NY Subways Disaster

Here's a little forgotten history of mass transportation in New York:

When New York's first subway opened in 1904, the privately owned venture charged a fare of just five cents and made a profit. However as progressive politicians saw the economic value of mass transit to the poor, the subway system became part of a social program rather than an economic one and was tied up by price controls that never allowed it to raise fares. By 1940 the bankrupt system had been taken into city ownership (as a result of price controls which kept fares at still just five cents) and union membership had been entrenched among it's workforce. Today, while lower and middle class residents of New York still depend on the subway as they have since 1904, the system is run more for the convenience of the Transport Workers Union than for the commuters who depends upon it.

Do you want to rely on a monopoly to take you to work?