In the U.S. Virgin Islands, the government has essentially handed control of ride services to a cartel of licensed taxi drivers

Landen Terrell : The government has essentially handed control of ride services on the islands to a cartel of licensed taxi drivers.

The taxi industry in the USVI is operated under a strict, protectionist regime.

Only ten new medallions are auctioned off each year to the highest bidder and may be resold after a period of three years .

Taxicab Commission’s opposition to free competition stems from their desire to preserve the racket through which they prosper at the expense of consumers.

Austrian economists have been telling us for decades : regulations under the facade of “protecting the public” always benefit the select few.

Regulations and price controls result in misallocation: shortages or surpluses and overpriced goods and services.