"In the 1920s, all he had to do is buy a used car and write the word taxi on it. And lo and behold, he was in business making money. Today it's entirely different."
"A taxi medallion in New York City costs over $700,000. In 1937, one could buy one for $10."
"The whole point of the medallion system is to keep insiders in and outsiders out."
Walter Williams: Suffer No Fools. Now streaming on CiVL.