http://www.npr.org/blogs/money/2012/07/31/157477611/does-new...
http://www.npr.org/blogs/money/2012/07/31/157477611/does-new...
Still though it should be recognized that the medallion system leads to massive returns for a tiny minority of existing medallion holders who are basically just extracting rents. The system could have easily been set up so as to distribute the returns to riders, or drivers, or taxpayers.
What drives the demand for cabs is the the price of a ride versus the alternative. If the regulated fare is low relative to subways & buses and the overall price level, cabs will be in high demand. If the fare is high, demand for cabs will decline.
Wrong population number, in the case of Manhattan where real estate prices are so high that 'number of people officially living there' becomes the wrong metric, and the right one begins to look like 'number of people physically present on the island each day', which is closer to 4 million people: http://wagner.nyu.edu/rudincenter/publications/dynamic_pop_m... (Significantly higher than 1.6 million!) And these commuters are also much more likely to need transportation - like taxis - for obvious reasons.
http://www.nypost.com/p/news/local/subways_on_roll_fDYxgwu92...
From the Apr 10th NY Post: "More than 1.65 billion straphangers used the system in 2012 — numbers that haven’t been seen since 1946 when ridership was more than 2 billion, according to MTA statistics released yesterday"
Not having to wait on a street corner for a crosswalk signal or only doing so sparingly would save NYCs on average more time than the occasional taxi ride. On top of that, the absence of cabs would set many minds on the problem of moving all New Yorkers around the city as fast as possible. If you're rich and you think that your time is valuable, then vote for spending on public transportation innovations that benefit everyone equally.
If you eliminate cars and time truck deliveries well, you can engineer a transportation system that runs like a well engineered clock with many complications. Cars are responsible for most of the non-detrminism in a public transportation system.
But there are certain situations where you need a taxi and the bus or subway won't do. Think the elderly, families with small children, etc.
While I can see the argument for taxies, I;m totally in agreement about private cars and especially parking. Parking has no business in the modern urban dense city.
Well, for one thing, NYC is answerable to NYS. Lots of people commute into NYC from its suburbs, they like to drive, and they do vote.