Peachy Real Time
by in Feature Articles on 2012-06-26Back in 1952, the economist William Vickrey proposed a fairly unique solution to New York City’s subway congestion problem: introduce a variable fare that fluctuated during peak times. The idea was that the market powers would help tackle the ever-longer commutes by introducing some simple supply-and-demand principles.
While Vickrey’s subway proposal didn’t gain a lot whole of steam, the congestion pricing concept quickly spread to the public roadways, and eventually became a mainstream economic idea. And in 1995, after technology had finally caught up with theory, California implemented the first such system on Interstate 15. This computer-controlled system of variable pricing has spread to highways across the world, and I’m sure is the exact prior art that IBM “inventors” Christopher James Dawson et al paid homage to when they “invented” and patented this exact system in 2008.