Quote:
Originally Posted by GGG
If you put in a maximum fair the city still effectively regulates supply.
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Quote:
Originally Posted by GGG
If you regulate the price I think you need to regulate the supply.
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This comes across to me as a contradiction.
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Quote:
Originally Posted by Table 5
They usually give some BS safety/maintenance reason or another, but in NYC, I know that one of the biggest reasons cabbies don't want to change the way things operate fundamentally, is because the medallions (ie licenses) themselves are so valued, they are worth hundreds of thousands of dollars. So at this stage those things are pretty much their investment plan...and for a lot of people there's huge money to be lost if the value of an individual license goes down. I wonder if that's the same underlying reason in Calgary.
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That's certainly a part of why it's hard to get rid of the license quota, but it doesn't explain why the system exists in the first place.