What is a "fair price" to charge for a subway ride?

Before I start to answer that question, let me preface my remarks with this: I am not letting the MTA off the hook for their colossal waste of money on everything from their offices at 2 Broadway, to their interminable "construction projects" on, among other things, the #7 line I ride every day, to any other waste, fraud or incompetence. This is not about fixing that problem; this is about what's a fair fare. Got it? Good. Now...

Historically (for the last 25-30 years, anyway), prices have, up until the introduction of the MetroCard, varied more or less with inflation. Some fare increases have outpaced inflation, while others have fallen short.

Today, an average fare of about $1.75 would be in line with historical levels, after adjusting for inflation. Clearly, the $2.00 top price is too high, and even the "15% bonus" cards cost about $1.79/ride, slightly above historical averages. While that price is not far off from the average, any increase in that price, which the MTA is threatening, would be out of line.  read more »