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Turns out all that happened was the rich benefitted and the poor suffered. Who'da thought?
(media.kbin.social)
this post was submitted on 28 Jul 2023
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Trains aren't important because they make a lot of money. Trains are important because they make the land around them worth a lot of money. Businesses near train stations get more customers. People pay more for houses near train stations. Cities with strong transit systems have a higher GDP.
Despite this, England privatised its rail system and expects the rail companies to make a profit. Instead, English people are poorer and the government has less money.
I have a dear friend from Docklands in London, who ran trains. We argue constantly about privatisation vs a government-run consolidated service like healthcare. He's adamant that a mass transit system has to be run as a separate capitalist company, that it must be cash-positive, and that's the only way to do it.
He also believes the Tube is overpriced, cramped, sweaty, and a really low value for money that is propped up by people who can't afford to drive into London nor park once they arrive, and have no other choice.
Fun fact: Japan has privatised rail. The reason is works in Japan is that the rail companies own the land around the stations and charge rent on it
Most of the Japanese rail companies are subsidized to the hilt from mass bankruptcies and financial collapse.