The fares in Prague seem low to Brits, but relative to other costs (eating out, groceries etc.) they aren't overly cheap for locals. They are however good value, which is more than can be said for transport here at home. The ticketing is governed by the city government (much like London for the most part) but there is some private sector involvement without the rampant profiteering (or appearance thereof) seen here. The clear difference is of course regulation, but also a government (of whichever slant) which remembers who their priority should be- namely the voters rather than the donors. The history in that country would suggest that socialism (even "Democratic socialism") might be a dirty word, but even the conservative politicians do not subscribe to the idea that state control is always bad, which many in this country seem to. Sadly I'm not sure the neo-liberal genie can ever be put back in the bottle here, even if there was an election next week and Corbyn won a landslide. The media and the general discourse here, along with 40 years of pro-corporate legislation, would likely prevent any real change. It also doesn't help that many here seem to believe that even Tony Blair was a socialist!
Hadn't planned on going on a political rant, but I've been up for 16 hours and I'm still at Kings Cross! Apologies...