The Tyranny of Taxi Medallions

Re:The Tyranny of Taxi Medallions by gertef on Wednesday April 10, 2013 @04:29PM (#5527930)

As you wrote: "The situation was made worse by the tactics of “wildcat” (unlicensed) taxis who used what some considered to be “underhanded tactics,” such as drastically lowering fares, to get more business."

Protecting a critical industry from market failure is more than just "protecting employment"

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Re:The Tyranny of Taxi Medallions by NoPiece on Wednesday April 10, 2013 @04:55PM (#5528093)

Why would you say that it would lead to market failure? It would have led to more cabs, lower fares, and more jobs (albeit at lower wages).

BTW - if it wasn't clear, I didn't write that sentence. I copied and pasted it from the nyc.gov site I linked. I'll edit my post to make it more clear. But I think it important that the regulators themselves are being honest about why the regulations came to be.

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