Parking

The fetish for government-subsidized parking is truly an odd thing. In any society with as many cars as ours, there are going to need to be a lot of parking spaces. But normally there’s a case for government subsidies when there’s some kind of positive externality associated with some form of behavior. That’s just really not the case with driving and parking. People like the convenience of driving right up to a store or office or whatever and parking there — indeed, they like it enough to pay for! How much will they pay? Well, it’s hard to know in advance which is why you need markets.

But that’s what you should have — as much parking as the market will bear. Not government-mandated parking, and not government-provided free or discount parking. Let people build garages and if it’s more economical to provide less parking, let there be less parking.

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