The real world should be like Monopoly - one out of every forty spaces is free parking.
Yet the presence of so many parking spaces is an artifact of regulation and serves as a powerful subsidy to cars and car trips. Legally mandated parking lowers the market price of parking spaces, often to zero. Zoning and development restrictions often require a large number of parking spaces attached to a store or a smaller number of spaces attached to a house or apartment block.
Sunday, August 15, 2010
Free parking is not so free:
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