Here is an interesting plan to get out of NYCs transitional gain trap regarding taxi medallions. Basically the author suggests buying out the current medallion holders and selling taxi-cab licenses on an open basis. I think his numbers don't add up but this might make an interesting microeconomics exercise for students perhpas in conjunction with Tullock's paper on the transitional gains trap.
http://www.city-journal.org/html/12_2_how_to_fix.html Alex -- Dr. Alexander Tabarrok Vice President and Director of Research The Independent Institute 100 Swan Way Oakland, CA, 94621-1428 Tel. 510-632-1366, FAX: 510-568-6040 Email: [EMAIL PROTECTED]
