The Privatization of Roads and Highways - Ludwig von Mises Institute

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Congestion and Road Pricing *
Traffic congestion is one of the most stultifying, annoying
and petty occurrences known to mankind. Vehicles which
are capable of safely covering 150 mph under specialized
conditions, and 55 mph under normal conditions, are limited to
crawling along, bumper-to-bumper, at perhaps 5 mph.
Congestion is a danger to motorists. Apart from the direct
psychological buffeting, frayed tempers undoubtedly create traffic
accidents. The vehicle, too, deteriorates at a faster rate than
otherwise, and overheated engines, cooling systems, interior
hoses, etc., are the cause of yet additional highway injury and
death.
The economic losses are monumental, merely in terms of
wasted time. A system more wasteful of manpower can hardly be
imagined: thousands upon thousands of productive workers are
forced to sit idle in many cases for ninety minutes in the morning
rush hour, and another ninety minutes in the evening. Furthermore,
there is the spectacle of millions of vehicles, standing
virtually still, with their motors idling and using up scarce
* This chapter was first published as “Congestion and Road Pricing,”
Journal of Libertarian Studies 4, no. 3 (Summer, 1980): 299–330. The author
wishes to acknowledge a debt of gratitude to the Cato Institute, and especially
to Charles G. Koch and Eward H. Crane III for their financial support.
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