
Who's Building New York's Transit System?
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Congestion pricing has arrived in New York City, and as $9 tolls begin hitting drivers' wallets, widespread skepticism looms over whether the MTA will actually deliver improved transportation. This skepticism isn't unfounded—the transit authority's track record with budget management is troubling, illustrated perfectly by projects like the East Side Access that exceeded initial budgets by billions.
But beneath this frustration lies an unexpected opportunity. While you're paying congestion tolls, have you considered owning a piece of the companies receiving those dollars? From Singapore Technologies Engineering (which secured a $550 million contract through its subsidiary Transcore) to Kawasaki Heavy Industries (which has delivered 2,200 subway cars since 1982), numerous publicly-traded companies stand to benefit from the MTA's massive $68 billion capital plan.
This approach connects directly to economist Thomas Piketty's groundbreaking work on wealth creation. While many of us focus on homeownership as our primary wealth-building strategy, Piketty's research reveals that "true wealth always consists primarily of financial and business assets." The wealthiest segment of society doesn't just own real estate—they own financial stakes in productive companies. As John D. Rockefeller once said, "I would have every man a capitalist... Own the industries, own the railroads."
New York's transportation infrastructure desperately requires investment—not just for city residents but for America's continued prosperity. As the financial capital of the world and the nation's third-largest economy, New York's functionality depends on reliable public transit. Whether you ride the subway or not, the people you depend on certainly do. Rather than just paying increased tolls and fares, perhaps it's time to consider owning shares in Kawasaki, Alstom, Thales Group, Skanska, and other companies building New York's future. After all, if they're getting your money either way, wouldn't you prefer to be on the receiving end too?