Monday, December 1, 2014

I Just Wish It Would Happen Faster!

I'm agreeing with the premise of a recent article by Walter Russell Mead where he argues that technology is slowly, but clearly, wreaking havoc on the Blue Model of society (i.e., mixed economy, large government, class warfare and the concomitant victimology, etc.). The context of his analysis is the taxi industry, currently getting hammered by Uber and Lyft:
The old regulated taxi system was one of the classic examples of the blue model system: a regulated, quasi-monopoly that seemed to many people to be the best and indeed the only way to combine the ideals of protection for consumers and a decent living for providers of services. Over time the taxi system everywhere tended to become less effective if only because of a tendency toward regulatory capture by crony capitalists—often, owners of companies who owned many of the artificially limited taxi medallions—who channeled campaign contributions and other sources of influence into focused efforts to limit the supply of medallions, raising prices for consumers and, often, leading to low incomes for the drivers who had to lease medallions at high prices from the handful of sources.
For the rest of Mead's article, click here.