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Actions like this always seems to weird to me. Given the limited resources of government and the large number of people who need help, it seems strange to rati
by JamesBarney 9y ago
Actions like this always seems to weird to me.
Given the limited resources of government and the large number of people who need help, it seems strange to ration that aid on the basis of previously making a bad financial investment.
- jacobush 9y agoIf you look at like purely a financial instrument, yes. Maybe not if you look at it like a social contract between the city administration and its populace. The aim - keep the taxi situation OK. When that medallion system started to fail, I don't think it's unreasonable for the city technocrats and or politicians to take a step back and say to themselves - OK, this is clearly not working like it used to. How can we scale back without disrupting and hurting too much those, who were partners in this (now failing) implementation of taxi regulation?
- totalZero 9y agoThe medallions exist in a government-created market. If the government offers a buy-in to a regulated business, then ceases to regulate the business in the same way, it's harming its own partners in the regulated industry. Offering to buy back the rights that it sold, well that's simply a way to reduce this harm to its partners.