The government-granted "monopoly" here has forced medallion prices so high that of course the companies would sue to protect the investment their drivers make (

The government-granted "monopoly" here has forced medallion prices so high that of course the companies would sue to protect the investment their drivers make (which they subsidize). They're like a union in that sense. Each medallion is a huge investment because certain neighborhood groups have fought for decades to "preserve" Boston by never increasing the number of medallions. And yes, because of the investment it has become self-perpetuating, with taxi companies protecting their own interests by not being in favor of increasing the number of medallions either. No matter how you look at it, if there weren't medallion limits in the first place there would be healthy competition right now. There are many natural monopolies. Hackneyed carriages (their official name here) are not one of them.