Taxis and Monopolies

Mark Perry of AEI notes that taxi medallion prices are flat for the first time pretty much ever, and discusses the impact of competition from companies like on-line "Uber."

4 comments:

Grim said...

Excuse my ignorance, as a non-Manhattanite, but what is a "taxi medallion"?

E Hines said...

It's your license to operate a taxi, or a fleet of taxis. Like liquor licenses in many jurisdictions, there are only a finite number of them in New York, so they're...expensive...to "buy."

Eric Hines, a cosmopolitan Texan, oxymoron though that may be....

Texan99 said...

The shakedown to perpetuate a monopoly. And don't think the medallion owners aren't pulling out all the stops to kill the online taxi business!

douglas said...

John Stossel explains it well here (starting at around 12:40).