Once upon a time people could fix their own cars. They could change their oil, replace the spark plugs and do a basic tune-up. As a teen I could start my manual-transmission car when its battery failed by rolling it down a hill and letting up on the clutch to engage the engine. With the advent of more automatics and computer software in cars, fewer people are tinkering with the inside of their cars.
A fancy app alone will not be enough to adjust the taxi status quo back to a focus on meeting customers’ needs. Policymakers need to relax caps on the number of government-approved taxis and restrictions on the prices that they can charge. Maybe then taxis will have a realistic chance to mount a challenge to ridesharing’s rapidly-increasing popularity.
Dissenting views to the FOMC’s consensus should be welcomed in an era of low growth. The best place to start moving towards a sound monetary policy system is by reevaluating the Fed’s impossible, ineffective dual mandate.
The second Republican debate covered many topics—from foreign policy, to immigration, to the drug war—but student loan debt, another major problem facing the country, only received a cursory mention from Ted Cruz at the end of the three-hour marathon. At $1.3 trillion, outstanding student loan debt is indeed a crisis, and it deserves the attention of those aspiring to lead Washington.