Market failure
Lance on Jan 23 2008 at 8:01 pm | Filed under: Economics, Lance's Page, Libertarianism, Technology, Urban planning and development, regulation
From Peter Gordon:
Sphere: Related ContentThis morning’s WSJ op-ed (“Gas Taxes Are High Enough”) by Mary E. Peters, Secretary of Transportation, suggests that this appointment belongs on the plus side of the ledger. She is the highest-ranking federal transportation official to openly embrace electronic road tolls on major highways. Highway congestion is often cited as a market failure in the texbooks. But not pricing when the means to do so at low cost are finally here is clearly a policy failure.
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