> a gimmick that's valuable only because of a government imposed monopoly is a sound investment

City streets are a limited public good. Aside from ensuring quality and consumer protection, regulation & limiting the number of taxis ensures that traffic can actually flow. A traffic consultant says that NYC's plan to add 2,000 medallions could slow down all traffic by 12% because taxis don't park -- they roam the streets constantly.

http://www.npr.org/blogs/money/2012/07/31/157477611/does-new...