I think a better solution to a lot of problems would be to hand out licenses quickly and revoke them quickly. The value of posessing a license can often be questionable but the ability to stop rule breakers is incredibly useful.

Only if the exam is cheap (not easy) and number of medallions is unlimited. (I got your joke, don't worry)

The prices are listed on this page[1]. Looks pretty expensive to me.

[1] https://tfl.gov.uk/info-for/taxis-and-private-hire/licensing...

That is for the "black cab" taxis, the ones you can hail by waving on the street.

For a private hire vehicle (the kind you telephone or use an app to book), the price is under £700 (under £500 if the driver speaks English).

That doesn't seem unreasonable. The GP comment was referring to the American system where the license are traded at very high costs (tens, hundreds of thousands of dollars).

https://tfl.gov.uk/info-for/taxis-and-private-hire/licensing...

Those are the prices for becoming a black cab driver (allowed to respond to street hails and use taxi ranks) - to drive for Uber only requires a "private hire driver" license.

The private hire license avoids the need for "the knowledge" and to have the traditional London black cab. There are still fees involved, of course - but becoming an Uber driver is much less demanding than becoming a black cab driver.

< 1000 pounds for what is basically license for a livelihood seems cheap.