Original post date: November 25, 2013 Article by: Ben Douglas Mass transit is frequently accompanied by mass-subsidization, cartelization, and monopolies. This chronic need for artificial support might be an indication of its inherent inferiority as an economically valued good or service. If consumers preferred the bus or metro over other transportation alternatives, and if it … Continue reading Transit as an Inferior Good
Original post date: November 19, 2013 Article by: Ben Douglas Finding a more textbook example of regulatory capture than the taxicab industry is difficult, as the case of the innovative on-demand taxi service Uber clearly demonstrates. Despite the highly regulated nature of the American taxicab industry, newcomer Uber continues to grow, due partly to its … Continue reading Customers Rise Up to Support Taxi Innovator
Original post date: November 19, 2013 Article by: Ben Douglas A revolutionary new smartphone app is changing the nature of the taxicab business, but stiff opposition from entrenched taxi companies risks keeping their innovations from benefiting customers. Uber is a venture-capital funded startup company that provides on-demand taxi and limousine services using cellphones to connect … Continue reading Entrenched Interests Fight Innovation in Taxi Industry
Original post date: November 06, 2013 Article by: Anonymous Ray LaHood, the recently retired secretary of the Department of Transportation, said that equal access to transportation is “one of the most fundamental of American rights.” Mobility is a crucial aspect of life for many people today, and there is a large transportation need. Many people … Continue reading Equal Access to Transportation, a Right?
Original post date: November 04, 2013 Article by: Ben Douglas The careful application of economics to policy reveals a host of ironies. Minimum wages create unemployment among the very unskilled laborers policymakers intend to help. Rent control destroys housing in the very cities it is intended to save. Adam Smith’s entire concept of an “invisible hand,” … Continue reading Go Green, Don’t Expand Transit