Yes.<p>Mass transit is subsidized, in most cases, FAR beyond whatever the externalities cost.<p>In Boston, 75% of the cost of each fair is payed for by other taxpayers.  I dated a woman getting her PhD at MIT in transportation studies for a few years and asked her "are there any studies showing that the negative externalities that are dealt with here cost anything like the MBTA subsidy?"<p>The answer is no - even if you count externalities, most public transit is a huge exercise in value destruction.