A Glimpse of What Privatized Roads Could Look Like

Is it possible to privatize roads? This question often weighs heavily on those who see the competitive market as the best means of achieving a wide distribution of resources at the lowest cost to the consumer.  Like money, roads have become crucial to facilitating transactions in a global economy marked by a deep division of labor.  But since land isn't terribly abundant, orthodox economics would suggest that roads are best left to the public sphere.  Since neighborhood streets are often looked at as common property, the prospect of their privatization appears detrimental to commerce.  Yet both of these impressions are in error.  Not only are the state and its merry band of robbers incapable of producing results as efficient as what the private sector could realize, but privatized roads would be more capable of setting the stage for smoother, more expansive travel than their socialized counterparts are. To understand the inefficiency of the public sector, it...(Read Full Article)