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All true. I would add that making market rules such that doing the right thing is not economically penalized, and doing the wrong thing is economically penaliz
by rossdavidh 4y ago
All true. I would add that making market rules such that doing the right thing is not economically penalized, and doing the wrong thing is economically penalized, is one of the primary proper purposes of government regulation. Given how heavily regulated the taxi industry was prior to Uber/Lyft, it is all the more disappointing that this and many other injustices persisted. It is bad if an unregulated market is profoundly unjust, and just as unjust if there is some economic gloss over racial bias; it is even worse if the market IS heavily regulated, and things were still that way. If ever there were an industry that deserved to be disrupted, it was this one.
Which doesn't mean we couldn't do a lot better than the status quo, of course. And, given the likely economic death spiral that Uber and Lyft are in, we should start working on figuring out what that would be.