> using the free market to bid it out
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".
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".
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.
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.