Americans waste a lot of their lives in traffic, with the average urban auto commuter spending 35 hours a year idling on highways during rush hour. The problem is getting so bad that some cities are beginning to consider a radical market-based solution.
Congestion pricing is a variable toll on drivers that rises or falls based on how many cars are on a stretch of road at a given time. The idea is to harness the power of the price mechanism to ration when and where people drive.
Higher tolls during peak hours push motorists to travel at different times, use alternative routes, or collapse multiple trips into just one—all of which cuts down on the time people spend driving. The revenue generated meanwhile can be spent on additional congestion-reducing projects, such as widening lanes or expanding bus service, writes Christian Britschgi in the latest print edition of Reason.
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