On 612 ABC Brisbane radio this morning, Steve Austin interviewed my friend and colleague Brad Rogers on Queensland’s highly regulated taxi industry. In the interview, Brad discussed the large cost that the restricted supply of taxi licences imposes on consumers and the possible contribution the restricted supply makes to drunken violence:
Memorably, Brad compared late night queues for taxis to bread lines in Soviet Russia. Just as Soviet planners couldn’t ensure sufficient bread for Russian citizens, Queensland Transport bureaucrats can’t ensure sufficient taxis for Queenslanders. You need to let the market work and trust that supply will meet demand. Great interview, Brad!
Brad has posted on the regulation of Queensland’s taxi industry on his own blog BJREconomics: