Austin voters have approved a ballot referendum to regulate peer-to-peer transportation network companies such as Lyft and Uber, forcing the companies to suspend service in a city otherwise known for its forward thinking and friendliness toward innovation.

In this episode of the Heartland Daily Podcast, managing editor Jesse Hathaway and Towson University economics lecturer Howard Baetjer talk about how free-market forces are more efficient than government regulatory boards and commissions at “regulating” the quality of consumer goods and services.

In this episode of the Budget & Tax News podcast, managing editor, Jesse Hathaway is joined by Heartland Institute policy advisor and Johnson & Wales University associate economics professor Adam C. Smith. Smith and Hathaway discuss Virginia’s recent legalization of sharing-economy transportation companies Lyft and Uber.

The state of Virginia has stepped up its attack on ride-sharing services Uber and Lyft. It’s just the latest example of crony capitalism and government favoritism toward the wealthy and powerful.