[icebraining]

Regulating them ensures that they are available where and when they are expected to be.

But does it really? A study[1] from 2000 shows that the availability is not that great in NYC. Any why should it be, if the regulations cap their number?

Regulating the number of cabs probably helps deal with traffic congestion, and also makes it potentially possible for drivers to earn a living wage.

Why, if most drivers can't afford the medallions and end up having to work for the few that can? In fact, the same study shows that as industry revenue grows, the wages don't follow.

Frankly, this is typical of regulations as they're implemented in the US and other countries (including mine). It's the Bootleggers and Baptists all around, which mostly end up feeding the capitalists at the expense of lower classes.

[1] http://www.nytimes.com/2000/03/17/nyregion/riders-know-study...