One More Reason for Congestion Pricing: Every Car in Manhattan Costs Us $128

06/02/2010 5:19 PM |

cars in the city

Every single car in Manhattan, at any given point (in space, not time) costs all of us $128. That’s a lot of money, no? That figure was arrived at through the work of Charles Komanoff, a traffic guru/economist who made a (very) finely detailed cost-benefit analysis of automobile impact on the wallets of each and every New Yorker.

Mr. Komanoff has also looked at the economic impact of the other common conveyances of city life—bikes, buses, subways—and is, not surprisingly, in favor of congestion tax, along with time-of-day dependent sliding fares for public transit. The best part of Mr. Komanoff’s analysis, though (for those of us who ride the bus), is probably this:

[Buses should be free] because the time saved when passengers aren’t fumbling for change more than makes up for the lost fare revenue.