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PR Newswire
27-09-2013, 07:25 AM
Quote "Public transport is a public good. It should be operated as one."
Is this a desire / ideal rather than what it really is?
Public goods have two distinct aspects: nonexcludability and nonrivalrous consumption.
In Singapore, due to increasing demand and physical supply constraints, we will find it difficult to satisfy both aspects for public transport. it's different from street lighting.
In any case, I see people raising concerns when PTOs are making profits, and concerned again when PTOs are not doing well. it boils down to which model can give the most optimal balance of service and cost - private or nationalised model. can our govt do a better job if they are directly running it? did we see success in public hospitals n polyclinics?
Is this a desire / ideal rather than what it really is?
Public goods have two distinct aspects: nonexcludability and nonrivalrous consumption.
In Singapore, due to increasing demand and physical supply constraints, we will find it difficult to satisfy both aspects for public transport. it's different from street lighting.
In any case, I see people raising concerns when PTOs are making profits, and concerned again when PTOs are not doing well. it boils down to which model can give the most optimal balance of service and cost - private or nationalised model. can our govt do a better job if they are directly running it? did we see success in public hospitals n polyclinics?
A stock well bought is half sold - Ben Graham
Price is the most important factor to use in relation to value - Walter Schloss
Price is the most important factor to use in relation to value - Walter Schloss