This is a common and bad form of argument: "there is at least one conceivable justification for this law, so it is not rent-seeking".
But no one ever makes their primary public justification "we'd like to screw over the public and make more money". There is always something about some harm that the law will prevent. The question is whether the law is well targeted and proportionate. The restrictions on supply for taxi medallions fail that criterion by a long shot.
But no one ever makes their primary public justification "we'd like to screw over the public and make more money". There is always something about some harm that the law will prevent. The question is whether the law is well targeted and proportionate. The restrictions on supply for taxi medallions fail that criterion by a long shot.