The two things are facts: a) It takes $1 million to own a cab medallion http://www.nytimes.com/2013/11/15/nyregion/1-million-medallions-stifling-the-dreams-of-

The two things are facts: a) It takes $1 million to own a cab medallion http://www.nytimes.com/2013/11/15/nyregion/1-million-medallions-stifling-the-dreams-of-cabdrivers.html?_r=0 http://www.nytimes.com/2013/11/15/nyregion/1-million-medalli... b) 82% of NYC Cab drivers are foreign born(and that will be your experience in the city). http://usatoday30.usatoday.com/travel/news/2004-07-07-nyc-cabbies_x.htm http://usatoday30.usatoday.com/travel/news/2004-07-07-nyc-ca... So you tell me, how do these immigrants end up being the Cab drivers with such a high barrier to entry?