No different than taxi licenses
Reader comment on: Tour-Guide Licensing Lawsuit
Submitted by Lyle (United States), Sep 17, 2010 17:02
I keep reading that NYC taxi medallions cost a bundle. Why does the city constrain the supply there, because the cabbies control the city! In general you need a government license to do almost any business, and the case of the tour guides, I suspect it has to do with insurance, for example if the tour guide leads one into a traffic accident, etc. Of course the main reason is here as everywhere else the regulated co-opt the regulators and restrict the supply to keep the price up. The banks are no different than any other business all think regulation is fine if it protects them.
Note: Comments are moderated by the editor and are subject to editing.
Other reader comments on this item
Comment on this item