Michael Munger on the Political Economy of Public Transportation
2008-07-07 · 56 min · episode 110 · 18 entities
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Michael Munger on the Political Economy of Public Transportation
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Feed author/publisher: Russ Roberts
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Feed author/publisher: Library of Economics and Liberty
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Michael Munger on the Political Economy of Public Transportation
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Feed author/publisher: Russ Roberts
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Feed author/publisher: Library of Economics and Liberty
podcasts 1
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Michael Munger on the Political Economy of Public Transportation
Episode description as stored
Michael Munger of Duke University talks with EconTalk host Russ Roberts about Munger's recent trip to Chile and the changes Chile has made to Santiago's bus system. What was once a private decentralized system with differing levels of quality and price has been transformed into a system of uniform quality designed from the top down. How has the new system fared? Not particularly well according to Munger. Commuting times are up and the President of Chile has apologized to the Chilean people for the failures of the new system. Munger talks about why such changes take place and why they persist even when they seem inferior to the original system that was replaced.