Comment by epc

An analytical perspective which ignores consumer sentiment in a market economy is academically moot.

Medallion owners could have been more flexible with leasing terms as Uber flooded the zone, but did not.

Taxi drivers could have ceased discriminating against outer boroughs, but did not.

Medallion owners relied upon the monopoly to extract as much money from the market as possible without investing in vehicles or drivers or technology.

Taxi drivers frittered away the minimal public support they receive with strikes against GPS and credit card machines.