can anyone tell me what is transitional gains trap? in New york, in order to be legal a cab driver must have a license to operate. with respect to New york cab drivers who, if any one, received transitional gains? what if the license program were ended tomorrow? who will be harmed? thanks in advance
The transitional gains were received by those cab companies and drivers who were licensed and granted medallions by the city. It reduced competition making it easier for those companies to turn a profit by charging higher prices than they would have. If the licensing program ended tomorrow, their would likely be an increase in the number of cabs in new york city leading to a decrease in prices to the consumer. The current companies and drivers who are granted privelage will be "harmed" in the form of having to charge lower prices in order to compete with the newcomers.
they said we would have an unfair fun advantage
thank you very much, you even cant imagine how you did help me.
Why does the public seemingly accept what is obviously a case of political corruption and has nothing to do with protecting the public?
Yes, I am a huge Dodgers fan.
Anti-state since I learned about the Cuban Revolution and why my dad had to flee the country.
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