Taxi new YorkNew York Taxi
Medalists have been fighting in towns across the nation to get their passengers off their backs by bringing statutory prohibitions before free market. Clearly, the reasons for the medal holders' opposition are that they are blaming the riders that the value of their medals is falling. There are two things about a medallion: a legitimate licence to run a taxi and a strict limitation on the number of taxis permitted in a town.
There are only about 13,000 taxi cabs in New York. More than $1 million in New York City four years ago. Uber, Lyft and other carpools followed. Today, the same locket is less than $200,000 in value. Because medaillons are usually debt-financed, many homeowners are now busy with reverse credits that they cannot allow themselves to disburse.
Understandably, taxi businesses have invested enormous amounts of extra work, hassle and money in forcing court and government to turn the clock back. Whilst taxi claimants have experienced a number of lost rights, app-based businesses focused on attracting clients have seen an increase in passenger numbers. Six taxi riders have taken their own life in New York City so far this year, sometimes pointing out their fights and sometimes even their personalities.
Trade unionists and medallists have turned these dramas into collective screams, blamed carpool rivalry for their death, and urged calling municipal officers to take new action to safeguard their commercial interests and curb their rivals. Urban leaders are reacting by reviving old concepts to limit the proliferation of ride-hailing, beat riders with charges they have to foot for the right to drive for carpools, and integrate riders into a unified application suite.
It could be forgive the reader for believing such politics, even if they are reactionsary, they are the fruit of sincere affection for the fighting taxi riders. However, these concepts are neither new nor conceived to serve the needs of the taxi operator. Indeed, New York City has long been very antagonistic to free market and rental rivalry.
Downtown Medaillon introduced its system of medallions in the early thirties, claiming that local economies were not functioning and that the governments had to intervene with cap supplies and strong regulations. There is much proof that these allegations were doubtful even then, but they have since been thoroughly undermined by carpool operators who, whatever one thinks of them, are clearly in line with the state of the cartel.
is not the purveyor of redemption. In fact, most New York cabs are not actually the property of the chauffeur. Most of the Medaillons are held by fleets, and the riders have to make high advance payments to these holders to get a layer. Meanwhile, those who are riders are compelled to take out heavy credits to buy a locket.
Complaining that they are in arrears with their locket credit repayments, or that they owe more than it is actually worth, makes this grief reality. The horsemen also paid the prize for locketing - quite literally. Well, they're not. D.C. officers found that locket schemes result in significantly higher pricing, not to mention worsening levels of customer satisfaction and other most unwanted benefits, such as race discriminations against consumers and decreasing customer satisfaction in deprived areas.
This is the system New York City is zealously clutching at, one that focuses all the advantages of taxi medals on the few chosen ones who own them - who are also randomly large payers of campaigns contributions - at the cost of all others, driver and passenger equally. There are still some who still demand that the medallion give them a permanent ban on the sale that can never be removed.
Maintaining the locket system will only consolidate a comradely monarchy, block another generations of drivers in government-mandated debts and compel the consumer to pay the bill.