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City Hall and Uber Clash in Struggle Over New York Streets
- davidf18 11y agoThe mayor claims to be a man of the people but really he is representing Taxi fleet owners with their $1 million per taxi medallions over the needs of people who want to work as drivers and other people who want to hire the Uber Cabs. Basically, the mayor is supporting using politics to continue the market inefficiency where politics originally limited the number of Taxi medallions (Microeconomics term is "rent seeking"). Thankfully, Uber and others had a mechanism to undermine that market inefficiency, the rent seeking. Now the Mayor wants to introduce yet more politics to create market inefficiencies for the multi-million dollar fleet owners.