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While that may be a benefit of medallions (or not), it's almost certainly not, historically, why they exist.
by pg 14y ago
While that may be a benefit of medallions (or not), it's almost certainly not, historically, why they exist.
- codex 14y agoI can't speak for all medallion programs, but NYC medallions were created to solve a surplus of taxis and associated congestion, low wages, and poor service, at least according to the NYTimes: http://www.nytimes.com/1996/05/11/nyregion/medallion-limits-stem-from-the-30-s.html http://www.nytimes.com/1996/05/11/nyregion/medallion-limits-...
- pg 14y agoAs far as I can tell that article implies the main goal of medallion limits was to increase prices by decreasing competition. Which is exactly what I would have expected.