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.