Tag: taxi medallions

Did you know that New York City taxi medallions can cost over $1 million?

January 8, 2016 | Post

In order to run a taxi in New York, you need a medallion. Because the number of medallions is restricted by the government (artificially restricting the supply, and thus, competition), getting your hands on a medallion can be extremely expensive. As Bloomberg Business explains: “To own a cab in New York, you need a medallion—a […]