Earlier this month, the Philadelphia Parking Authority, which regulates the city's taxi industry, had sold newly-created medallions for wheel-chair accessible taxis for $80,000 each. The bargain price came after the authority put the medallions on the market last fall, with an initial asking price of $475,000, but received no bids. [...]
Uber's labor practices are deplorable, and the company uses rhetoric about "disrupting inefficient markets" as cover for some really evil behavior. But the reason the rhetoric rings so true is that municipal taxi licensing is a disaster, and it's one that was deliberately made and continued for decades thanks to the great wealth the dysfunction brought to a tiny minority, who made so much that they were able to set some of their gains aside to lobby to make things stay the same.
There are no winners here: