Alex Tabarrok posted the following yesterday on Marginal Revolution:
Here from Alain Bertaud and the Urbanization Project is another way of thinking not just about the high cost of free parking but also the opportunity cost of streets. In New York City, a place with some of the most valuable real estate in the world, 26.6% of the land is devoted to unpriced streets (and an even larger percentage once we include parking). In Manhattan we go to great expense and effort to make it possible for hundreds of people to use the same 10*10 square feet of land, we build skyscrapers, and yet at the same time similar quantities of land are being taken up by a few people and their cars.
Hat tip: Brandon Fuller.
My question, however, is this:
Since streets are a public good, should we expect governments to provide too many streets or too few?