NYC Subway Fare over last 120 years adjusted for inflationsutisuc t1_jcmx65e wrote
Reply to comment by ottprim in NYC Subway Fare over last 120 years adjusted for inflation by dust1990
Weren’t all the subway lines privately run at that point?
ottprim t1_jcmxywg wrote
Yes. The BMT, IRT, and IND were companies. Some had buses too, but the city legislated the fare the could charge.
AwesomeWhiteDude t1_jcnv3pu wrote
IND was owned and operated by the city
Sun_Devilish t1_jcnn80l wrote
> the city legislated the fare the could charge.
/facepalm
No wonder they went out of business.
Past-Passenger9129 t1_jcowst0 wrote
To be fair, look at the crazy curve of the cost relative to today's dollar over that 40+ year span. The economy was anything but stable.
sutisuc t1_jcmy84h wrote
Wow. Can’t even fathom the city trying to dictate what a private company could charge today. Thanks for sharing
funforyourlife t1_jcn12bt wrote
Utility companies literally have their rates set by the government
bayoublue t1_jcnruvj wrote
The city payed for the construction of the subway lines and owned them. The private operators had operating agreements to run them.
ottprim t1_jcn3gkl wrote
There's an interesting book about the early subway called Uptown/Downtown.
https://www.amazon.com/Uptown-Downtown-Through-Yorks-Subways/dp/0801581966
sutisuc t1_jcn6m9n wrote
Thanks I’ll check it out
Powerful-Attorney-26 t1_jcrtu3p wrote
The city had paid for the construction and let the private companies make the profits. The actual tracks and stations have always been owned by the city. Massive corporate welfare. And indeed the owners of the private companies make a fortune early in the subways' existence. First of all the seems were profitable themselves for about the first ten years, and the owners were able to engage in massive amounts of land speculation because they knew where the lines and stations were going to be put.
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