A recent VICE article shares the conclusions of a report published by an NYU research group. The research, led by Alon Levy, spans some 15 years and demonstrates the extent to which transit projects in the U.S. are inflated compared to other countries around the world—and what we can do about it.
For instance, the cost of constructing a subway in New York is double what it costs in Tokyo and 10 times what it costs in Paris. The research found New York to be the most expensive place to build transit in the world, and the lack of efficiency means we get less transit for more money, and we have a lot of public sector debt.
Why is this the case? Levy offers several reasons, which Abby and Chuck unpack in today's episode.
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