Cautionary Guide Membership:When Morgan Stanley provided to lease Chicago’s parking metres for the princely sum of $1 billion, the Metropolis Council have been satisfied that they had struck gold and unexpectedly signed the deal. They quickly learnt, nevertheless, that they hadn’t simply traded away parking income. They’d traded away the streets themselves…
Within the first ever hybrid episode of Cautionary Tales, Tim Harford tells the story of the Chicago parking metres fiasco of 2008. Within the second half of the episode, Tim is joined by Henry Grabar, creator of Paved Paradise, to speak concerning the classes to glean from Chicago’s take care of Wall Road, and why parking is such an emotive challenge for thus many.
Additional studying
This episode is predicated, with permission, on Henry Grabar’s e book Paved Paradise.
Supplementary sources embrace John Kass’s Chicago Tribune column of Could 22, 2008, Carol Marin “Drivers’ anger over meters boiling over right into a boycott” within the Chicago Solar-Instances 25 March 2009, Jon Hilkevitch “Parking meter fixes rushed” within the Chicago Tribune 26 March 2009, and Jordan Stutts “You’re simply milking the system” Infrastructure Investor 11 Sep 2018.