What I mean is that a traffic light is very arbitrary and stops people who just barely didn't make the cutoff. Multiply that by 5, 10, or 20 traffic lights on a journey and an extra minute at each one can add up. So people have incentive to run the light and shave the 30 seconds or a minute. But then when people run the light, it slows down the cross-road who has to wait extra for the road to clear, despite it being "their turn". So then people on that side have an incentive to run the light, because they got wrongfully cutoff by the arbitrariness and the other jerks running the light first. Rinse and repeat for a few cycles and it's easy to see that this is not a good situation.
Traffic circles on the other hand don't suffer from this as there isn't arbitrariness on such a 'long' timescale. If you have to wait for a couple of extra cars it's only a few seconds, versus a minute or so. Because it's just a couple of seconds, people have less to lose and are more inclined to be nice. Which ultimately means that driving is more pleasant, even if it's not as efficient.
I also might disagree with the idea that roundabouts aren't effective at high traffic levels. https://www.youtube.com/watch?v=lwHfibl1AoI