'The Gig Economy' Is the New Term for Serfdom
I was mostly agreeing with the article until this part:<p>&quot;His medallion, once worth $1.1 million, had plummeted in value to $180,000. The dramatic drop in the value of the medallion, which he had hoped to lease for $3,000 a month or sell to finance his retirement, wiped out his economic security. He faced financial ruin and poverty. And he was not alone.&quot;<p>The medalions are stupid and shouldn&#x27;t exist. Relying on their &quot;value&quot; for retirement is crazy. And like another commenter has said - if it was worth 1.1 million, why not sell it and retire, perhaps doing a less stressful job than driving a taxi for 12 hours in turns with your wife? It sounds like he gambled - that he could keep working, keep the medallion, and retire while leasing the medallion for $3000&#x2F;month(!!!!!!!!!!) - and like all gambles, this one had a possibility of failing - and it did.