Connecticut cracks down on Uber and Lyft. A recent law is requiring “Transportation network Companies” (which the state admits is aimed at Uber and Lyft) to do various things before operating in the state. For instance, they now have to register with the state Department of Transportation, (for fifty grand each, and a five grand annual renewal!), they have to provide pictures of the drivers and the license plate to riders before the ride, must have a sign on the car visible at least fifty feet away, requires anti-discrimination policies, limits the time drivers can operate, requires background checks on drivers, and a few other technical issues.
I suppose the new registration law is intended to protect livery providers and taxi drivers from competition. Will it do any good in the long run? Maybe I should ask it this way: will anti-competitive laws ever do our economy any good in the long run?