Public Goods, Principal/Agent Problems, Opportunity Costs

http://m.theatlantic.com/business/archive/2013/11/the-case-against-cars-in-1-utterly-entrancing-gif/281615/

 

What are the opportunity costs of not investing in public transit? Who exactly are the principals and agents in this case, what are their incentives, and how are they distorted?

 

Under the “what if x disappeared tomorrow” protocol, what would happen in a truly free market if all transit infrastructure disappeared tomorrow? What would arise?

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