Cars consume too much of New York's most precious resource: space. Because people commuting in cars require much more street space than people traveling by buses, bikes or feet, it is in New York's interest to minimize driving and traffic.London - a city much like New York when it comes to high density, good transit and low car ownership - has found an effective means to do just that.London's congestion pricing system charges motorists a fee equivalent to about $10 when they drive into central London. The system runs not with tollbooths, but with a high-tech cordon of cameras that captures images of drivers' license plates to match them against records of who has paid. Drivers are able to pay the charge via phone, mail, the Internet or in person at special kiosks.To prevent the pricing system from keeping people away from the city center, London wed the charge to a new generation of transit improvements. Today, the rollout of these improvements is accelerating and revenue from the system is funding ever more high-quality bus lanes, bike lanes and walkways.There are now 18% fewer cars in central London, and traffic delays are down 30%. There is more space for people to walk, shop, bike and enjoy the city. Roughly the same number of people enter central London as before, but they are getting there by more efficient means.A similar scenario for Manhattan south of 59th St. would be a boon for the 80% of commuters who currently travel to this area by transit and walking. And motorists would enjoy shorter commute times as well, thanks to thinning traffic. Other benefits include improved emergency response times, as well as reduced through-traffic and improved quality of life in Brooklyn and Queens neighborhoods, which are currently inundated with Manhattan-bound motorists.In recent years, City Hall's dedication to efficiency-based analysis and management has brought crime and other seemingly intractable problems under control. By applying the same approach to traffic congestion, New York can stay competitive with London and other big cities that are reducing the demand for driving and gaining more performance from their streets.White is executive director of Transportation Alternatives, a traffic watchdog group.