Mobility is one of the most fundamental and important characteristics of economic activity. We all have the basic need of going from one place to another – whether you are a business exec travelling across town (or even internationally) for a meeting, a manufacturer moving its product from the factory to the shop floor, or a parent dropping their kids off at school.
The extent to which mobility has shaped and changed society is not thought about enough. The development of the early rudimentary transportation networks was arguably the catalyst that led to the formation of the first multinational corporations, as well as enabled the major flows of international migration that has occurred since the 18th century. Today, transportation has become so integrated into our economies it accounts for 10-20% of total GDP spending in many major economies.
Whilst there is no doubt that more efficient mobility networks will continue to be a major contributor to future wealth creation and social welfare, it is quite clear that parts of our transportation networks are used above their designed capacity resulting in associated costs such as congestion (see: 2 week traffic jam on China expressway), accidents, and harmful urban air …
