We were told the same thing about cabs, and hotels. And even though AirBnB and Uber exist, the world is fine. Personally I even prefer a world where I can Uber from my AirBnB to a sidewalk cafe and have a glass of wine.
> We were told the same thing about cabs ... and Uber exist, the world is fine.
Lots of traffic problems in major cities due to giving Uber unlimited public resource capacity, rather than using the free market to bid it out (which is what medallions are, if I understand correctly).
Did the world blow up? Is that our standard for success? The world of many medallion owners blew up because Uber bought off government and propagandized the public to give them for free what others have to pay for.
> Airbnb
Regulated in many/most cities.
that's pushing the use of "the free market" quite a bit. Cities control the supply of medallions. The fact that people can bid whatever they want for them doesn't make it a "free market".
If you mean 'Don't mediallions ...', no. They take a real scarcity, road space (and pollution capacity) and shift it from an externality, something an entity consumes and but doesn't pay for, to something they do pay for.
Why not? Every market and auction is premised on limited resources. There is limited road space, which is auctioned off in the form of tokens, which are the mediallions.
Why do you say that? It's not clear to me, especially sans any support.
It is actually pretty funny that they managed to pick two of the most well known "evading regulatory oversight to harm communities for fun and profit" companies out there.