What can we learn from Chilean buses?

Foto tomada por Antoine.

The powers-that-be in Chile decided last year to get rid of the private bus system in Santiago and replace it with the government-run Transantiago, to better serve everybody (especially the poor).

Can you guess what happened?

Michael Munger explains on the latest EconTalk (listen here). As usual, it's funny (really!) and interesting and thought-provoking.