NEWS + ANALYSIS
FRED ROEDER

NEWS + ANALYSIS

TAXI! IT’S THE 21ST CENTURY!

July 1, 2014 | by Fred Roeder

New technologies and the entrepreneurial spirit improve our lives every day. Among the latest and most significant innovations for urban dwellers are the peer-to-peer ridesharing apps Uber or Lyft. These apps lower passengers’ and drivers’ transaction costs by connecting them through their smartphones. Uber’s quick global rollout of ride services has struck fear in the conventional taxicab industry, which is lobbying policymakers worldwide to prohibit such “non-licensed” mobility services. The industry, which has long benefited from monopolistic government licensing, says prohibition is necessary to “protect the customer,” but actually the industry wants to protect itself. From what? From  consumers’ freedom to choice.

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