Final answer:
In the historical context, various theories of financing public transport infrastructure have been developed. One theory is that government agencies borrow money to raise funds for building roads or mass transit. Another theory is that some firms reinvest their savings in their own businesses.
Step-by-step explanation:
In the historical context, various theories of financing public transport infrastructure have been developed. One theory is that government agencies borrow money to raise funds for building roads or mass transit. Another theory is that some firms reinvest their savings in their own businesses. For example, in the 19th century, the US government provided land grants and resources to private citizens for the construction of railroads, which resulted in a nationwide transportation network.
Urban areas are willing to subsidize urban transit systems because there are several benefits. Subsidies help make public transportation more affordable for residents, reduce traffic congestion, and contribute to environmental sustainability. The argument for subsidies makes sense as they promote accessibility, connectivity, and overall economic development in urban areas.
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