This is almost a perfect metaphor for the failings of capitalism, or at they very least the notion that the singular pursuit of selfish greed can lead to ideal outcomes. The selfish need for individual drivers to go as fast as they can leads to a collective failure, here in the form of a traffic jam.
Your post, if we're going to trade snarky political barbs, is a great example of how some people think that some magical form of "regulation" can regulate basic control theory right out of existence. Thinking that any form of regulation could somehow fix this is exactly the same as thinking that they could "fix" gravity. The physics is actually pretty simple at the core, even if the details are complicated. Anywhere you get negative feedback of a certain very, very popular and easy-to-hit form, you get waves. Can't be stopped.