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Re:Taxi Medallions, Once a Safe Investment, Now Drag Owners ... by BurningFrog on Monday September 11, 2017 @01:37AM (#15216194)
> it’s a scheme that allowed people to buy into a monopoly

It is a rather ingenious "free market monopoly hybrid" that I can't think of existing in other fields.

Re:Taxi Medallions, Once a Safe Investment, Now Drag Owners ... by kristopolous on Monday September 11, 2017 @02:04AM (#15216327)
sure there is ... any centrally allocated system of real or artificially scarce resources based on market dynamics works this way. For instance, radio frequencies, water rights, domain names and ticket scalping. In some municipalities liquor licenses, mobile network providers, broadband, and now marijuana licenses work this way too.

I wouldn't be surprised if banks, cosmetologists and realtors were like this too, but I don't know enough about them.

Re:Taxi Medallions, Once a Safe Investment, Now Drag Owners ... by adamlett on Monday September 11, 2017 @02:57AM (#15216550)
Not to mention the music industry or really any industry whose business model is enabled by copyright.
Re:Taxi Medallions, Once a Safe Investment, Now Drag Owners ... by em3rgent0rdr on Monday September 11, 2017 @04:45AM (#15217008)
More broadly: not just copyright but intellectual-property in general, which is government-granted monopoly protection.
Re:Taxi Medallions, Once a Safe Investment, Now Drag Owners ... by adamlett on Monday September 11, 2017 @06:57AM (#15217530)
You're right in principle, and I thought about writing the same. But trademarks are IP too, and I have a hard time seeing how this applies to them. I also think copyright is far worse than patents for a few reasons. Firstly, patents do expire, whereas copyright never seem to. Secondly, patents disputes are mostly between businesses, which mean the forces are roughly equal on either side. Copyright disputes are sometimes between businesses, but more often than not, they are between businesses that hold the copyright on one side, and consumers on the other. And in those cases, the balance of power is tilted massively in favor of the right’s holders. Which I am guessing goes a long way to explain why the copyright period keeps getting extended.
Re:Taxi Medallions, Once a Safe Investment, Now Drag Owners ... by ekianjo on Monday September 11, 2017 @02:07AM (#15216337)
many countries grant pharmacists the monopoly of selling drugs and limit the number of pharmacies per area. This kind of system is used across many fields.
Re:Taxi Medallions, Once a Safe Investment, Now Drag Owners ... by njarboe on Monday September 11, 2017 @02:12AM (#15216356)
Medical school?
Re:Taxi Medallions, Once a Safe Investment, Now Drag Owners ... by skookumchuck on Monday September 11, 2017 @03:03AM (#15216579)
Yes. A fixed number of students are accepted, controlled by the AMA.
Re:Taxi Medallions, Once a Safe Investment, Now Drag Owners ... by chimeracoder on Monday September 11, 2017 @07:37PM (#15223446)
> Yes. A fixed number of students are accepted, controlled by the AMA.

No. The AMA does not have any control over how many students are accepted to medical school. The AAMC does, and there technically is a cap, but they've been intentionally increasing it steadily for over a decade in order to increase the supply of doctors.

However, even that's irrelevant, because the number of people graduating medical school isn't a bottleneck for the supply of physicians - residency programs are. There are far more doctors than there are residency slots, and the AAMC doesn't control residency positions. So whatever cap they have at this point doesn't affect anything other than the number of people who graduate medical school and end up having to get a job in a different field.

Re:Taxi Medallions, Once a Safe Investment, Now Drag Owners ... by njarboe on Friday September 15, 2017 @12:53AM (#15254733)
Do you have any idea what limits residency positions? They don't pay like a doctor but they do doctor like stuff. I would think that hospitals would want a lot of them. Sort of like how in science post-docs are hired everywhere because they are just the same as a research scientist, but you can pay them less.
Re:Taxi Medallions, Once a Safe Investment, Now Drag Owners ... by chimeracoder on Friday September 15, 2017 @09:07AM (#15256791)
> Do you have any idea what limits residency positions? They don't pay like a doctor but they do doctor like stuff. I would think that hospitals would want a lot of them. Sort of like how in science post-docs are hired everywhere because they are just the same as a research scientist, but you can pay them less.

It's the other way around. Resdiency positions are extraordinary expensive to offer - remember that this is where doctors actually receive their clinical training. Medicare funds them, because otherwise hospitals would have no incentive to offer them (they would lose money on each resident).

Re:Taxi Medallions, Once a Safe Investment, Now Drag Owners ... by malandrew on Monday September 11, 2017 @02:09PM (#15220697)
Seriously!? We have a quota limit how many people can become doctors?
Re:Taxi Medallions, Once a Safe Investment, Now Drag Owners ... by skookumchuck on Monday September 11, 2017 @05:29PM (#15222530)
Yes. This is why there is such intense competition to get into med school.
Re:Taxi Medallions, Once a Safe Investment, Now Drag Owners ... by hkmurakami on Monday September 11, 2017 @02:43AM (#15216470)
Dentistry.

Housing as a cartel.