> Also you do not want to give out so many medallions that owners cannot possibly make a living
Do you really think that some government agency can come up with the correct price and license cap using Excel magic? Of course not, most likely this will just lead to corruption and an inferior service.
Let the free market find the price. If it's not possible to make a living people won't drive. Where I live taxis usually charge whatever Uber is showing.
If you want free market to find the price. Why not force Uber and Lyft to accept pricing from their drivers. Absolutely any pricing and any rules. I think that would be reasonable.
Thats what sidecar did, and the driver market rejected it because it was an awful and unsafe experience. Imagine trying to set rates while you're driving around!
> Also you do not want to give out so many medallions that owners cannot possibly make a living
Do you really think that some government agency can come up with the correct price and license cap using Excel magic? Of course not, most likely this will just lead to corruption and an inferior service.
Let the free market find the price. If it's not possible to make a living people won't drive. Where I live taxis usually charge whatever Uber is showing.