08/10/2018

REGRESSIVE: New York City Hits Pause Button On Ride-Sharing Services

Andrew Moran, Economic Collapse News

New York City has one of the most regressive governments in the country. Despite labeling themselves as true progressives, the mayor and the council are quite regressive, and they are placing hurdles to innovation.

On Wednesday, the New York City Council voted to cap the number of licenses for ride-sharing services, such as Uber and Lyft, for one year. This is the first cap adopted by a mjor U.S. city.

The bill will inevitably be signed by Mayor Bill de Blasio, who believes the legislation will reduce congestion.

But, wait, there’s more…the city also wants to establish a minimum wage for drivers because there have been six suicides among cab drivers in recent months, says the New York Taxi Workers Alliance.

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In Search Of History

4,000 Years Of Price Control

Tablets, said to be 200 years older than the Babylonian Code of Hammurabi ... show that the ancient kingdom of Eshnunna had wage control and price control. The news ought not to have come as a surprise. For the code of Hammurabi itself (unearthed in 1902), which was promulgated earlier than 2000 B.C., fixed prices, wages, interest rates, and fees. This makes price control at least about 4,000 years old. ...

 

Ironically, it is those who now wish to return to this ancient totalitarian device who are fondest of calling themselves “progressives.” They are also fond of saying that those who believe in economic liberty “are living in the nineteenth century.” These controlists have yet to learn that they themselves are still living, as the discoveries in Babylonia attest, in the nineteenth century—B.C.!

-- Henry Hazlitt,

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  • Unemployment:
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    FreeMarket Central Shadow Stats: 21.5%
  • Inflation:
    FreeMarket Central July Year-to-Year: 2.87% (CPI-U*)
    FreeMarket Central Shadow Stats: 9.9%

*[cpi-u is the Bureau of Labor Statistics inflation rate for all urban consumers]

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