Taxi Cab Medallions, Uber, and the Transitional Gains Trap: Part 2
In my earlier post , I discussed the conditions that led to New York City enacting in 1937 the first policy to establish taxi cab medallions. In short, the public’s discontent with high taxi fares, the cabbies’ dissatisfaction with their compensation, the relatively few but large fleet owners, and a general tendency to support government intervention in the wake of the stock market crash and depressed economy created an environment ripe for a new idea to change…
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