The Unfairness of Taxi Fares

TAXI MEDALLION PRICES RISE “WITHOUT LIMIT”

by Mario Rizzo

Some time ago I was accused by the noted economist and psychiatrist Professor Bradford DeLong of being a “psychopath” and “clinically crazy” because I suggested that people should not tip cab drivers in New York City. I do not intend to revisit that particular issue here.

This time I would like to take on the Taxi and Limousine Commission’s approval of a 17% fare increase for cab rides beginning in September. Continue reading