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That's not quite true. Regulation frequently aims to smooth out the booms and busts and I would argue that happens in the current taxi industry.
by pbreit 11y ago
That's not quite true. Regulation frequently aims to smooth out the booms and busts and I would argue that happens in the current taxi industry.
- BurningFrog 11y agoRegulation is marketed by nice sounding goals like that, while it is actually motivated by protecting the established players and keeping competition out.
- Daishiman 11y agoYes, all regulations, all the time, and so much evidence to boot!
- pbreit 11y agoEither way, it smoothes out the booms and busts.
- hueving 11y agoThere isn't really any correlation between smoothness of booms and busts and regulation. Quite frequently regulation causes massive swings because it prevents the market from pricing risk correctly (e.g. The affordable housing act leading to banks not needing to care about mortgage payback risk).