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Originally they cost much less but demand / supply has caused the spike. The sensible thing would be to increase Medallions but that reduces the profit from th
by ipaddr 3y ago
Originally they cost much less but demand / supply has caused the spike. The sensible thing would be to increase Medallions but that reduces the profit from the first group plus increases traffic
- kevincox 3y agoThere is also a desirable number of cabs to be driving. Having cabs lined up idling on the side of every street, even if they are profitable, isn't optimal for the city. So there is a legitimate reason to provide a limit. Of course it is clear that the medallion system has other problems like raising barrier to entry. Maybe it would make more sense if the city rented/auctioned the desired number directly on relatively short timeframes.