Traffic Jam Economics: More roads = more traffic = same delays

January 31, 2012 § Leave a comment

Quite funny – this topic comes up every decade or so. I remember it being discussed when I went to high school twenty years ago. The article itself is rather bad by the way, and completely illogical: if you add medallions in NYC then under the same law other traffic will decrease (because it will be too painful for people) so adding medallions is not such a bad idea.

Of course one group of people that will love this argument is current medallion owners – after all NYC medallions have scarcity value

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