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Cabs and Free Markets

Cabs are often hard to find, and they’re more expensive than they would be if they were more plentiful. Why is that?

Jeanette Petersen of the Institute for Justice talks about the reasons it’s hard to get a cab:

Cabs can also be greener than other forms of transportation. They take a specific number of people from one spot to another, seeking the shortest, fastest route possible. Under-used trains, buses, or trolleys — especially in the evening — may make dozens of needless stops on winding routes with few passengers.

Taxis’ advantages would be even more pronounced with fewer protectionist barriers to entry to the industry.

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