Sunday, June 8, 2014

Bryant Jackson-Green - Why are regulators so out of touch?

Why are regulators so out of touch? At a Chicago City Council committee hearing on ride-sharing services last week, taxi-industry lobbyist Matthew Daus, president of the International Association of Transportation Regulators, reportedly said that “millennials” were responsible for the rise of companies such as Lyft and Uber because they care more about “cost” than about the public interest.

 But what’s wrong with caring about costs? Everyone prefers to pay less money for better service if they can. Millennials in particular can hardly be blamed for being cost-conscious in an economy where they face a high unemployment rate and relatively poor job prospects.

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