KevinSherry
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NYC hotels make Uber look nice: http://go.bloomberg.com/hurricane-sandy/2012/11/02/the-35-shower-and-other-tales-of-the-hurricane-economy/
Reuters just reported that "NY Attorney General launches probe into post-sandy price gouging."
@KevinSherry @economix i should have proofread my 2nd paragraph. That's wrong.
I just received an email from Uber saying they will waive all of their own fees this week while they increase fares for drivers in order to put more cars on the road.
We may have Paul Carr and other critics to thank for that.
@economix price ceilings only cause shortages under certain conditions. basic economics. There is currently a price floor on taxi rides, i.e., a $2.50 minimum. By your logic that must have flooded the market w/too many taxis or killed demand (if u believe price ceilings "predictably" cause shortages, then you must believe price floors "predictably" create the opposite). I assume when you wrote "price controls" you actually meant "price ceilings" which is pretty funny considering you accused someone else of embarrassing themselves.
The only market-based argument to not limiting price increases in this situation is that it would reduce the amount of cars on the street, thereby reducing traffic concerns. Considering how few Uber cars there are in relation to cars on the street, Uber's move was nothing more than price gouging.
I'm a fan of the idea of Uber and have been a supporter, but that doesn't change the fact that their CEO is a dbag.