There are good arguments in favour of restricted supply, mainly because the roads themselves are publicly owned, and the public pays the cost of every extra veh

There are good arguments in favour of restricted supply, mainly because the roads themselves are publicly owned, and the public pays the cost of every extra vehicle on them. What's especially problematic about the way regulations are used now, is they're forcing the exact opposite outcome: uber (and others) are much better at efficiently routing cars to passengers. Taxis driving in loops around the city, waiting for someone to hail them, places far more of a strain on traffic than an uber driver.