Saturday, June 14, 2014

Free Markets Prosper : Uber & Lyft Surge

Why is it so hard to believe free market work and government control is a loser.
 
(Author unknown)
Well, that didn’t work.
Maybe you saw an item in the news about a strike by taxi drivers this week in many European cities. They blocked traffic to express their fury about the competition from Uber, Lyft and other smartphone apps that allow you to hail a ride quickly and inexpensively, bypassing the taxi cartel.
The strike “appears to have completely backfired on the strikers,” writes Mike Masnick at Techdirt, “with Uber signups in London jumping an astounding 850%. Basically, the ‘protests’ have pissed off people at cab drivers and made them more aware of Uber...
Taxi blockade at Whitehall in London: How’s that strike thing working for ya?
“Uber had been hovering around the 100th most popular app in the U.K. over the past few weeks,” Masnick adds, “but it has suddenly jumped to No. 3.”
Heh…

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