Forget precious metals. Precious medals is where it's at. Or medallions. Taxi cab medallions, to be specific. In New York, a couple of taxi medallions recently sold for $1 million. Each. This presented an interesting question for the Planet Money team: what makes these medallions so valuable? Scarcity? The promise of long returns? And are they a good investment?
In the most recent Planet Money podcast, David Kestenbaum and Robert Smith discuss the taxicab industry, and "why economists hate it." Take a listen:
Posted
11-30-2011 9:28 AM
by
Graham Griffith