Pedicab update

A few years ago, Mitch Johnson and I wrote about New York City's misbegotten regulatory proposal to limit and restrict pedicabs. Now, following a recent accident, the city is implementing a regulatory regime that's less obviously anticompetitive than the previous proposal; gone is a limit of 325 licenses that would have automatically excluded hundreds of operators, though it will be interesting to see whether the new system in practice poses high barriers to entry. Richard Epstein makes an effort to sort out reasonable from unreasonable pedicab regulations here.