The Pie: An Economics Podcast Fighting Traffic in Chicago: Lower Fares, More Trains, Fewer Buses
Apr 30, 2024
In this engaging discussion, Milena Almagro, an Assistant Professor of Economics at Chicago Booth, dives into the transportation challenges plaguing urban areas, particularly Chicago. She reveals how policies like congestion pricing and improved public transit can alleviate gridlock and pollution. Drawing on innovative research using cell phone data, she emphasizes the disparities in transit access linked to income levels. Milena also highlights the economic implications of congestion and shares strategies to enhance public transport efficiency.
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Milena's Commute Dilemma
- Milena Almagro experiences shorter car commutes compared to public transit in Chicago.
- This trade-off between time and cost motivates her research on transit choices.
Economic Cost of Congestion
- Traffic congestion costs the U.S. economy $87 billion annually.
- Congestion amounts to about $260 per person per year in lost time and productivity.
Low Public Transit Use in U.S.
- The U.S. lags behind developed countries in public transit usage.
- Only about 10% of trips in the U.S. use public transit, while 90% rely on private cars.