Romain Hatchuel: What's French for 'Economic Nonsense'?

Taxi unions and the pursuit of a 75% income tax can signal a lot about a country—and the unlikelihood of reform.

Chad Crowe

If there were a sufficient number of taxis in Paris, many Parisians would rely on them as their usual means of transportation (very few currently do). Thousands of jobs would be created. Far from losing out, current drivers would own a piece of a much bigger pie. The value of their medallions would likely appreciate: New York taxicab medallions, at $800,000 to $900,000, actually sell for 2.5 times more than those in Paris.

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