Hennessy's View

Domine, non sum dignus

RANT: Metropolitan Taxicab Commission Is Killing Capitalism

So how to reenergize the innovation diffusion machine? This is key: “A level playing field that does not favour incumbents over entrants. Many policy measures, from environmental to fiscal measures, are designed to favour incumbents.” More entry through startups and more exit by uncompetitive incumbents. –JAMES PETHOKOUKIS, AMERICAN ENTERPRISE INSTITUTE The Metropolitan Taxicab Commission is a crony club for taxi company executives and their hospitality friends, and its primary purpose is to kill transportation innovation and thwart price competition. Read more →