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Congestion Pricing: The Answer To America's Traffic Woes?, Ryan Yeung

Ryan Yeung

Congestion results in losses in productivity, added delivery time, extra costs for consumers, as well as damage to the environment. The most obvious solution to traffic congestion is to build more roads, but the prevailing thought among experts is that adding supply is not an effective long-term solution. Another approach is congestion pricing, where motorists are charged different prices based on demand. A literature review supports congestion pricing’s effectiveness, efficiency, and equity. Perhaps most importantly, a number of case studies suggest that congestion pricing is politically feasible.