Quote:
Originally Posted by Jason14h
Then those driver's will stop driving, and demand will increase with a decreasing supply, and the price will increase.
If it increases too much people will take Taxi's
Wow free market makes sense sometimes.
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Or in the absence of regulation and any real liability you get a race to the bottom in terms of vehicle quality.
The consumer is not in a position to judge the safety of a vehicle before entering so it's not factored in the decision so cost governs.
The over regulation of the taxi industry isn't great and the high rents owners charge their drivers are just as bad as keeping money out of drivers hands but an uber monopoly setting the price and quality doesn't work either.
An intelligent amount of regulation is required. Vehicle standards and at least an average of minimum wage for drivers. Then competition can be based on performance instead of cost cutting.