Friday, June 20, 2008

Time Cost Huge than the Cost on Time by Chandra

It is interesting post which is very much readable and muse indeed needed.
Time is the most precious resource of men and women, and even older children. This is why it is disturbing that so much time is wasted through bad policies of the public authorities that manage infrastructure.
Even modest estimate of the value of the time of those caught in traffic holdups would have easily exceeded the extra pay required to have work at night and during weekends when traffic is much slower.
Traffic has grown in virtually all cities, with consequent greatly increased delays during commuting and other times. The solution is not mainly new urban highways, which are expensive to construct and disturb the functioning of local communities, but through pricing traveling on roads that already exist in order to economize on the time of commuters and other travelers.
One important way to price roads and reduce the time of those caught in traffic delay is to introduce “congestion tolls” that vary with time of day and extent of the traffic. London, England has been using congestion tolls for several years to reduce the heavy traffic during weekdays into and out of the center of London.
Despite some grumbling, this toll system has been successful, and is being extended to other parts of London where congestion is also a serious problem.

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