The NYT has an absolutely boneheaded article about the shortage of taxicabs in Manhattan during the evening rush-hour. They blame rising Manhattan rents and cabbies’ schedules, but the statists at the New York Times don’t see the obvious glaring issue: controlled prices and a taxicab cartel! They cite it as an “apparent violation of the laws of supply and demand,” without recognizing that for supply and demand to work, you need drivers to be able to charge their own prices and enter markets at will.
Aside from that supply and demand bit, I’d say the second stupidest quote comes from David Yassky, leader of the cabbies’ cartel:
Mr. Yassky said the city “should be circumspect about substituting its judgment for the judgment of business people.”
Hmm, that’s odd, because last I checked, Yassky was in charge of a state organ devoted to protecting incumbent taxi drivers from the judgment of business people.