“If Boston regulated baked goods the way it regulates taxicabs, fewer families would eat fresh bread, and those that did would pay a premium for the privilege. If bakeries were treated like taxis, their number would be severely limited, no matter how great the consumer demand. No one would be allowed to operate a bakeshop without a ‘medallion’ from the Police Department, and since the supply of medallions would be kept artificially low, their price would shoot sky-high — to $150,000, $200,000, maybe more. For most entrepreneurs, simply getting permission to earn a living as a baker would mean going deeply into debt to buy a medallion. Or paying through the nose to lease one from someone else.” (09/07/08)