Cities Need Congestion Pricing (Video)


It's a Tool to Properly Allocate and Value Scarce Public Space
Economics 101 tells us that if we take something valuable and scarce and offer it for a very low price, demand is probably going to exceed supply and we'll end up with rationing, which can manifest itself as a queue outside of a store or traffic jams in cities. Congestion pricing tries to address that problem for scarce public space in cities by bringing supply and demand closer to equilibrium. Via Streetfilms. See also: National Bike Summit Participants Ask Politicians Not to Cut Bike Funding

Tags: Transportation