Economics Of The Industry
DOI link for Economics Of The Industry
Economics Of The Industry book
During the years 1950-1972, while the cab driver suffered for lack of an honest union, the owners of the industry were developing their control over public service. His economic power over the public as well as the driver has had unfortunate repercussions upon the quality and quantity of taxi service in New York. The transfer of the medallion cost from one operator to another has meant that new operators automatically have had economic disadvantages over those who have owned their medallions since 1937. The growing political strength of the Metropolitan Taxi Board of Trade (MTBOT) reflects the consolidation of economic and political power in the hands of a few. During bargaining sessions with the city council, the MTBOT has exerted a strong grip over the political decisions made. Owner-drivers, whose economic structure varies widely from that of the fleet owners, have been perfectly content to allow the larger fleet operators to dictate the price structure for the industry.