Friday, May 14, 2010

Variable pricing is as old as parking meters

From Gizmodo, a celebration of the parking meter's 75th birthday (as calculated from the date of Carl Magee's patent application). Read it, it's nicely cranky.

Note that in the first installation, in Oklahoma City:

Your five cents (about $.80 in today's money) got you anywhere from 15 minutes' to an hour's worth of parking, depending on location.

That's right, variable pricing.

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