would rent seeking by another name smell so foul?

http://www.washingtonexaminer.com/local/…

The District’s open, all-are-invited taxicab industry is so saturated with drivers that the entire enterprise is threatened, according to a D.C. Council member who has filed a bill to cap the number of cabs allowed on city streets.

Ward 1 Councilman Jim Graham introduced legislation Tuesday to limit the number of taxicabs in D.C. through either a medallion system, like ones used in New York City and Chicago, or a certification system.

The soaring number of taxicab operators in D.C. — roughly 8,000, most of whom own their own cars — is a “pressing and urgent problem,” Graham said. There are more licensed drivers in D.C. per capita than any place in the world, he said, and new applicants continue to take the required class, giving them access to the driver exam administered by the D.C. Taxicab Commission. A glut of drivers could jeopardize the chances of any cabbies making an adequate living, Graham has said.

This is the same problem we have in so many other areas of life: so many business folks stay in business despite not making a living, that then they all starve to death.

You know, coffee houses, bookstores, flower shops…all of those people are wasting away.

One Response to “would rent seeking by another name smell so foul?”

  1. HTRN Says:

    This nicely explains why Cabs are so much cheaper in DC then they are in New York..