LETTER: It is time to free the taxi industry from self-imposed overregulation, protectionism and corruption.

In reference to the Review-Journal’s Sunday editorial, “Free the cab companies”: I agree. It is time to free the taxi industry from self-imposed overregulation, protectionism and corruption.

We could start by abolishing the Nevada Taxicab Authority itself, as the panel is nothing short of a state-sponsored armed enforcement wing of the taxi cartel. The monopoly that a small group of elite families has enforced for nearly 50 years must come to an end.

The lack of competition has made the Las Vegas taxi industry weak and incompetent in the face of real competition. The most efficient and cost-effective business model for taxi cabs is the owner-driver model. All medallions issued in the past 24 months should be placed in public auction for bid by taxi drivers in good standing.

This increased competition would most probably drive the Las Vegas taxi cartel into bankruptcy but both the general public and the taxi drivers would benefit greatly.