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Road pricing - don't forget the economics

Over ten years ago in Teaching Business and Economics, I wrote an article that set out the economist's case for road pricing. These arguments remain as strong as ever. The problem we currently face is that political forces, with little transport logic underpinning them, have moved the debate well away from the arena of economics. This is very unfortunate.

Over the past few months, as if it were needed, there has been additional compelling evidence of the benefits that road pricing can make in terms of relieving congestion, improving competitiveness and contributing to slowing down the pace of climate change. These are additional to the welfare benefits that will accrue through road ...

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