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    Artwork for Planet Money
    Episode

    When Chicago pawned its parking meters

    Planet Money · Dec 12, 2025 · 31 min
    Episode page

    In 2008, Chicago’s budget was in a bad place. The city needed money. One way to raise money was to increase property taxes, but what politician wants to do that? So instead, Mayor Richard M. Daley’s administration looked around at the resources the city had, and thought, ‘Any of this worth anything?’ They opted to lease out the city’s metered parking system — to privatize all 36,000 of its…

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