Gridlock (novel) Gridlock (novel) Gridlock is a 1991 novel by Ben Elton. The novel depicts a near-future London in which traffic congestion has reached almost critical levels, such that accidents in a few key places could bring the entire city's traffic network to a halt. The government is aware of the problem and plans a major new road-building program to relieve the pressure. The alternative, heavy investment in public mass transport systems such as railways, is ignored because it clashes with the government's ideology. The author argues that this is a highly misguided policy since, in his view, more roads have historically
Gridlock (economics) the parties can cooperate, for example, companies can collaboratively invest in a sustainable way, the gridlock can be easily solved and the industry will function in a healthy way. But this is not happening because of the desire to maximize one's own benefit given the uncertainty about the others’ commitment to cooperation. Naturally to solve this problem, it requires institutions within the industry or company to regulate rules and prevent the inefficient situation to happen. Thus institution plays a role of traffic lights or traffic police in the conjunction of business world. In the book Institutional Economics an introduction, professor