I am pretty sure that cabbies won't respond by cutting their own pay, so I am confused by that. I see the barriers to entry for being an Uber driver as much lower than those steps needed to become a cab driver. All the fare money goes to the driver (not split with the cab company). It might pay better to be an Uber driver, especially if you maximize for driving during demand pricing.
It's true that social change and industry change have consequences and that real people are hurt and angered by those effects on them. But this change, a new job supplanting an old job but using the same skills as the previous incarnation of the job: I need to know more about the actual economics here to feel concern for whether or not this change is one to be anxious over (and to thereafter "vote" with my spending).
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Date: 2014-04-21 06:46 pm (UTC)It's true that social change and industry change have consequences and that real people are hurt and angered by those effects on them. But this change, a new job supplanting an old job but using the same skills as the previous incarnation of the job: I need to know more about the actual economics here to feel concern for whether or not this change is one to be anxious over (and to thereafter "vote" with my spending).
K.