> This is called "traffic calming"

That sounds like the PR branding for a positive externality of developers making streets narrower because they can and it allows them to maximize the space they get to charge for when they sell.

I live in one such neighborhood, and enough people park on the street that even without two cars needing to pass each other it feels unsafe even at slow speed, because if you're taking a turn you can't see oncoming traffic, and if some kid ran out from behind a car there would be no room to maneuver to avoid them without hitting something else, even at a slow speed.

If it wasn't about money they would just put speed bumps in, like they do in lots of places.