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We live in a free market, they're free to find work elsewhere. Not only that but these cabbies have the unbelievable fortune of being able to unload these medal

• vkou 8y ago
  Suppose that your state government embarks on a program of land reform. And suppose that they institute new/raise existing taxes/restrictions, that cause the value of your Silicon Valley home to go from ~2.2m to something reasonable, like ~200k. Most economists are in agreement that dramatically increasing the cost of owning property (And, conversely, lowering the market value of existing properties) is one of the answers to the current housing crisis. Once the rules are changed, the free market can figure things out going forward! Are you going to cheer this process on? It will, after all, greatly improve life for people who don't have millions of dollars to pour into housing.
• sigstoat 8y ago
  > We live in a free market, they're free to find work elsewhere. except taxis aren't currently a free market, and definitely weren't when many of those medallions were originally purchased. the government shouldn't have been mucking with the market, but it did.