Earlier quoted context omitted.
> I paid over $50 USD for parking a bit over two hours in Cambridge Massachusetts when visiting MIT. Parking in the Boston area is atrocious. The two are related. The whole point of charging for parking is to leverage scarcity to convince people to not make the problem worse and just find alternatives to driving to the doorstop that work well for them.
Don't forget the opportunity cost. Urban land is extremely valuable, so if you're using it for car parking instead of shop, restaurants, homes, or offices you're missing out on a lot of potential income. This goes doubly so for all the additional roads you need to get the cars to their parking spots.
It's one way to put a lot of cars in a small space. Much of the space in a conventional parking garage is lost to the driveways.