A real free market might save cab drivers from financial ruin

Published



It’s a sad tragedy that several New York City cab drivers took their lives in recent months. Increased competition on the roads has forced cab drivers to work more than before and some face financial ruin from deflated medallion values.

Cab unions are using this tragic situation to push for more regulations on technology. However, it would be better for the most stringent regulations on cabs to be relaxed so that they can regain their financial footing.

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