Re:Atlanta introduces bill to regulate Uber and Lyft
by gamblor956 on Friday February 07, 2014 @05:10PM
(#7199100)
Counterpart: Live in a jurisdiction which does not regulate any of the above and you'll quickly realize why all Western countries do so.
It's not about restricting competition, it's about very real concerns that are addressed by specific licensing regimes for each such industry. Tort law and market competition are useless, alone or together, in regulating low-entry-cost industries with high potential externalities. Licensing imposes capital requirements which make tort law and market competition feasible, along with guaranteeing certain other benefits to customers that increase the potential market of the industry.
It's not about restricting competition, it's about very real concerns that are addressed by specific licensing regimes for each such industry. Tort law and market competition are useless, alone or together, in regulating low-entry-cost industries with high potential externalities. Licensing imposes capital requirements which make tort law and market competition feasible, along with guaranteeing certain other benefits to customers that increase the potential market of the industry.