"n 1932, 16,732 cabs roamed New York City streets, according to taxi historian Graham Hodges’Taxi! A social history of the New York City cab driver.
The competition “was merciless,” according to Hodges, and “Many cabbies turned to petty crime to help make ends meet.”
There were strikes, and there were fare wars."
The solution isn't to wipe out the medallions. The solution is to issue more until you achieve the balance you seek.
First of all, the medallion system does not raise the pay of cab drivers in the long run, since those medallions are eventually traded and leased out.
Second, there are plenty of jobs which pay very little, and somehow this is not brought up as a concern.
"n 1932, 16,732 cabs roamed New York City streets, according to taxi historian Graham Hodges’Taxi! A social history of the New York City cab driver.
The competition “was merciless,” according to Hodges, and “Many cabbies turned to petty crime to help make ends meet.”
There were strikes, and there were fare wars."
The solution isn't to wipe out the medallions. The solution is to issue more until you achieve the balance you seek.