Congestion Pricing Will Make You Happy

The framers of the Declaration of Independence evidently believedthat happiness could be achieved, putting its pursuit up therealongside the unalienable rights to life and liberty. Thoughgovernments since then have seen life and liberty as deserving ofvigorous protection, for all the public policies aimed at increasingeconomic growth, people have been left to sort out their happiness.

Thisis an unfortunate omission. Despite all the wealth we have accumulated— increased life expectancy, central heating, plasma TVs andventi-white-chocolate-mocha Frappuccinos — true happiness has laggedour prosperity...

Despite happiness’ apparently Sisyphean nature, there may be ways toincrease satisfaction over the long term. While the extra happinessderived from a raise or a winning lottery ticket might be fleeting,studies have found that the happiness people derive from free time orsocial interaction is less susceptible to comparisons with other peoplearound them. Non-monetary rewards — like more vacations, or more timewith friends or family — are likely to produce more lasting changes insatisfaction.

This swings the door wide open for governmentintervention. On a small scale, congestion taxes to encourage people tocarpool would reduce the distress of the solo morning commute, whichapparently drives people nuts.