Lessons from the Uber, de Blasio Showdown
The recent showdown between ride-sharing service Uber and New York City Mayor Bill de Blasio provides a vibrant illustration of what we economists call "public choice" -- basically, the study of politics through the lens of economic theory.Mayor de Blasio attempted to limit ride-sharing drivers, but Uber exposed this proposal, unleashing thousands of New Yorkers onto the City Council. After a weeklong public debate, de Blasio dropped the proposal. Uber's strategy, de Blasio's forfeit, and even the actions of Gov. Andrew Cuomo and Comptroller Scott Stringer provide important lessons for our nation on the dangers of idealizing politics.
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