> Uber, for instance, has found success through paying "employees" effectively below minimum wage. Yeah, but think about why. Specifically, why doesn't Uber h

> Uber, for instance, has found success through paying "employees" effectively below minimum wage. Yeah, but think about why. Specifically, why doesn't Uber have any competitors that pay better? The only other major player in the US market is Lyft, which is such a clone of Uber that a lot of drivers work for both of them. This happened because the market won't bear the kind of prices Uber, Lyft, and any other entrant in the market would need to charge in order to pay the drivers more. This is a perfect example of my previous point about how regulations can constrain the market but don't create demand in themselves: if the government said all Uber and Lyft drivers needed to be full-time employees with benefits and a higher wage, even though the market won't bear the prices needed to make that happen, Uber and Lyft would go out of business. Instead of having low-paying jobs those workers would end up with no jobs.