Monopolies can lead to terrible economic behaviors: A story of cabs and Uber
Monopolies can lead to terrible economic behaviors: A story of cabs and Uber
Earlier this week, Uber caught a break from the city of London when the ride-hailing service was granted a short-term operating license. It temporarily resolves the fight between Uber and London’s black cabs.
In New York City though, the relationship between Uber, Lyft and yellow cabs is still uneasy at best. But the reason that ride-share companies have been able to get such a foothold in a city where cabs and cabbies have near-legendary status is a totally different story, with economics at the heart of it. And it was the subject of a Twitter thread by @Ritholtz — Barry Ritholtz, op-ed columnist at Bloomberg and chief investment officer at Ritholtz Wealth Management.
Scroll through for the whole story:
| What taxi ride data reveals about the NY Fed and big banks |
| New York’s taxi economy implodes |
| Twitter Thread: The long and twisting story of how Jay Powell became our next Federal Reserve chair |
Stories You Might Like
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Tote-ally awesome!
Give today and get our limited edition tote.
