Traffic congestion isn’t just an inconvenience; it’s also a financial burden. In Australia, traffic delays cost around $19 billion annually in lost productivity, increased vehicle operating costs, and environmental damage. Think about it—every minute sitting in traffic wastes fuel and time that could be spent working or enjoying life. Economists consider this an example of “externalities,” where the cost of congestion is shared by society, not just the drivers. Some also suggest they are ‘contagious’:
https://theconversation.com/traffic-jams-are-contagious-understanding-how-they-spread-can-help-make-them-less-common-135551
Could investing in public transport or smart traffic systems save the day? Would congestion pricing be a better solution?
#Economics #TrafficCongestion #UrbanPlanning #PublicTransport
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Lytton Advisory 