The limitation of NYC taxi licenses is an obvious bad. For consumers, for those who want to serve consumers and for the environment. Yet it persists. It's an example of what happens when a fascist state gives a rentier 'right' to an interest group in exchange for power, the 'right' is almost impossible to eradicate. Some call this the liberal 'ratchet' effect: things can go more left/state controlled but have a hard time going back the other way. Rent control and ag subsidies are a couple other areas where this is true.
Just one more reason why we should be terribly 'small c' conservative about give the state more power and control over facets of our lives - we may end up making irrevocable decisions that are bad for everyone.
Except the rent seekers and the politicians, that is.
Hat tip
Mark Perry.
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