This paper explores traffic congestion on today's roads. What are the solutions to this problem? This paper looks to congestion pricing as a solution to this problem, both economically and socially. Traffic congestion causes enormous costs on all of us in terms of the time we're stuck unproductively in a car. Many of us who are stuck would pay others to get off the road, but is there a mechanism to do this? Economics says that to eliminate the externality of congestion costs, you could internalize the costs by creating a market to incentive drivers to schedule their day in a way that doesn't create congestion costs for others.
