I first came across the phrase “economic importance” in my junior secondary school. I was amazed that bacteria could have any ‘importance’ other than making us sick. Yesterday, while commuting back from work, I ran into serious traffic. As I sat there wondering when I will get home, a thought came to my mind and at the end I concluded that even road traffic has some economic importance.


#1
Traffic is a life saver

According to research, the second highest cause of road accidents (after distracted driving) is speeding. So if speed kills, traffic is a life saver. Lagos drivers are known for reckless driving, over speeding and running red lights. Hence, traffic is the only time they really drive courteously. Even that doesn’t stop them from brushing other road user’s bumper.


#2
Traffic is good for the economy

You can’t miss the shouts of “Gala-gala”, “Buy butter bread”, “cold mineral here”, whenever traffic builds up anywhere in Nigeria. Traffic provides a meeting point for seller and potential buyers, thereby creating a source of income for thousands of housholds.



These are the 2 economic importance I can come up with now, feel free to add yours!

3. It helps reduce car theft. No car snatcher dares to steal a car during traffic.

4. It helps police and other. Uniform personnel to catch their prey easily.

lonelydora: 3. It helps reduce car theft. No car snatcher dares to steal a car during traffic.

4. It helps police and other. Uniform personnel to catch their prey easily.

Beautiful!!!!! Thanks!

I also learnt that Economic Importance can be positive and negative as well
here comes the negative...
Should one car overheat and catch fire...R.I.P to other cars that'll be part of the chain reaction.

Bossforeva: I also learnt that Economic Importance can be positive and negative as well
here comes the negative...
Should one car overheat and catch fire...R.I.P to other cars that'll be part of the chain reaction.

ANd if there's an emergency and someone needs to be taken to the hospital and get caught in traffic. Its RIP

lonelydora: 3. It helps reduce car theft. No car snatcher dares to steal a car during traffic.
.

In Nigeria, a lot of armed robbery cases occurs in traffic jam even in broad day light.
In the UK after years of painstaking research, as at 2008, value of time spent in traffic during working hours was circa £5. Imagine how many people have been late for appointments, meetings, interviews e.t.c and the amount of stress spent in traffic.
You are also more likely to burn your car clutch disc.. Imagine someone leaving home at 5.30am and gets home at 10.30pm, the cycle repeats itself for 5. straight working days, all these affects your pocket and health.

Good point raised. Thanks!