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Well you seemed fairly clear that poor people were being priced out of the market, but surely , if there's demand, there would be supply at a lower price with i
by anu_gupta 14y ago
Well you seemed fairly clear that poor people were being priced out of the market, but surely , if there's demand, there would be supply at a lower price with increased risk? Why isn't this happening?
Given that you seem to have plenty of real world experience about this, it would be interesting to hear your explanation. Also, still waiting for you to explain how poor people have been priced out of the industry.
- gw 14y agoI was referring to lower cost (but legal) services. For example, living in a cheaper apartment complex generally is riskier, because there tends to be more crime in the area than there would be in more expensive apartments. This point (which I made in my third paragraph) is separate from the point I was making about black markets. In the case of unlicensed cabs, they are clearly in the "black market" category. As with all black markets, they aren't necessarily cheaper than their legal equivalents, but nonetheless they are there due to unmet demand in the market.