The Basic Problems of Transport Economics

Abstract

The study of transport economics involves undertaking the intriguing but often very difficult task of applying the methods of economic analysis to the complex and involved problems of the real world. In this real world it is not only the best means of obtaining objectives that have to be determined; the policy aims themselves may also be disputed, or changing, or unclear. Transport economics is an area in which the economist may find it very hard indeed to act as an independent and impartial expert who can discuss means without questioning ends. It is a field of study in which he will have to measure that which appears to be unmeasureable, and to deal not only with tangible scarce resources but also with more elusive items on which no market has ever bestowed a price. In order to resolve some transport problems it may be necessary to find a money value for such events or actions as spending another five minutes in bed in the morning, preserving a Norman church, having heavy lorries passing by the front room window or saving human life.