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December 1, 2014

Piece by Piece, The Blue Model Sickens and Dies

Over time the taxi system everywhere tended to become less effective

if only because of a tendency toward regulatory capture by crony capitalists—often, owners of companies who owned many of the artificially limited taxi medallions—who channeled campaign contributions and other sources of influence into focused efforts to limit the supply of medallions, raising prices for consumers and, often, leading to low incomes for the drivers who had to lease medallions at high prices from the handful of sources.
- The American Interest

Posted by gerardvanderleun at December 1, 2014 9:16 PM. This is an entry on the sideblog of American Digest: Check it out.

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