The cost of parking

Urban planners and economists keep harping on the notion that parking is severely under-priced, and the more a good is under-priced the more the incentive for consumers to over-consume. The result is that almost universally we complain about lack of parking spaces.

According to the Economist,

The cheapest parking in the survey is in India, where a spot in Chennai costs 96 cents a day.

Even in Indian prices, that is awfully cheap. It is amazing how expensive parking is in some of the European cities.