Quote:
Originally Posted by Slava
OK, why? The city can set prices and frankly if a million people want to work within those guidelines, or at least think they can, where's the issue?
I would be more concerned about pricing getting out of control the other way (too high), and setting a maximum makes more sense to me.
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You need a minimum because the things that will get cut to compete for cars will be safetey related in cars. So to maintain a minimum standard of safety I think we need a minimum rate of charge. Essentially like any other minimum wage.
The problem with a maximum is that it restricts individuals ability to make profits if you want to end protectionism you have to give up cost certainty for the buyer. If you put in a maximum fair the city still effectively regulates supply. Increase the max more cars are on the road, decrease the max and less cabs are available.