Government Regulation vs. the Market
By Russ Roberts
This past summer I did a lot of EconTalk episodes related to the sharing economy. In the first one, with Mike Munger, we talked about how reputation established by users at Uber and AirBnB could substitute for direct regulation by government bureaucracy and the likely pluses and minuses of each approach. Here is a mind-blowing case study out of Nevada that reads like something out of the Onion (HT: Amy Webb). I actually think it’s true. If anyone has any direct experience with these “innovations” by the Nevada Taxicab Authority, please mention it in the comments.