Economics of Taxi Medalions (Re: taxi! taxi!

Doug Henwood dhenwood at panix.com
Mon May 18 12:10:53 PDT 1998


Nathan Newman wrote:


>But if the central issue for the cab drivers are the high fixed costs of
>renting
>their cabs every day, then it is reasonable for progressives to discuss longer
>term solutions.

Well of course - expropriate the expropriators!

The problem with focusing so obsessively on the number of medallions is that it plays right into the deregulation agenda. Let free entry and free markets rule! You'd want some control over the supply to prevent deflationary competition.

Doug



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