Worth to know - Public costs
The external costs of automobiles, as similarly other economic externalities, are the measurable costs for other parties except the car proprietor, such costs not being taken into account when the proprietor opts to drive their car. According to the Harvard University,11 the main externalities of driving are local and global pollution, oil dependence, traffic congestion and traffic accidents; while according to a meta-study conducted by the Delft University12 these externalities are congestion and scarcity costs, accident costs, air pollution costs, noise costs, climate change costs, costs for nature and landscape, costs for water pollution, costs for soil pollution and costs of energy dependency. The existence of the car allows on-demand travel, given, that the necessary infrastructure is in place. This infrastructure represents a monetary cost, but also cost in terms of common assets that are difficult to represent monetarily, such as land use and air pollution.
How to earn on an old car?
Renovation of old cars is a very profitable venture, especially when really we gain experience in this matter, and cars leaving our workshop turned into real gems automotive industry. While many people engaged in this activity are people who have no training in this area, it does not mean, however, that renewed their cars are worth nothing. Not only that - very often replace an old car in a modern and luxurious car turns out to be really gold investment. No wonder that the number of people interested in restoration of stylish and often very old cars is expanding from year to year.
Fully autonomous vehicles, also known as driverless cars, already exist in prototype (such as the Google driverless car), and are expected to be commercially available around 2020. According to urban designer and futurist Michael E. Arth, driverless electric vehicles?in conjunction with the increased use of virtual reality for work, travel, and pleasure?could reduce the world's 800 million vehicles to a fraction of that number within a few decades.59 This would be possible if almost all private cars requiring drivers, which are not in use and parked 90% of the time, would be traded for public self-driving taxis that would be in near constant use. This would also allow for getting the appropriate vehicle for the particular need?a bus could come for a group of people, a limousine could come for a special night out, and a Segway could come for a short trip down the street for one person. Children could be chauffeured in supervised safety, DUIs would no longer exist, and 41,000 lives could be saved each year in the US alone.6061