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27.10.2016 08:52

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For tourists on a tight budget, this allowed them the freedom to save money by cooking their meals instead of eating out, which can add up quickly in Manhattan. While the hotel industry had every right to be concerned over the increasing popularity of sites like Airbnb, using the state to squash the competition is concerning, to say the least. In the unbridled market, entrepreneurs are rewarded for taking risks and innovating, which is exactly what the homesharing economy has been doing while the hotel industry has refused to update their business model. Just as the taxi industry, whose business model has remained stagnant for the last eighty years, has enjoyed an almost century-long monopoly, the traditional hotel model has had no reason to think seriously about innovation since they were the only game in town. However, instead of using the rise of the homesharing economy as motivation to innovate, the hotel industry instead resorted to cronyism by pressuring Governor Cuomo to increase regulations on their competition. In New York City, it is already illegal for apartment dwelling residents to rent out space in their homes for less than thirty days. However, the new law takes these regulations even further by punishing residents for merely listing their apartments on homesharing websites. Under the new regulations, those caught advertising short-term rental spaces on sites like Airbnb are subject to fines ranging from $1,000-$7,500. President of the New York Hotel and Motel Trades Council, Peter Ward, stated , For too long, companies like Airbnb have encouraged illegal activity that takes housing off the market and makes our affordability crisis worse. While the hotel industry may see Cuomos actions as a victory against their competitors, it is the residents of New York City who are really being punished by these new regulations. The sharing economy is unique specifically because its model isnt about big business or central control over a given market; it is about individuals connecting with other individuals to conduct business free from all the crippling government regulations found in almost all other sectors. Additionally, for many residents living in one of the most expensive cities in the United States, losing the ability to supplement their income through homesharing comes as a huge blow.

For the original version including any supplementary images or video, visit https://mises.org/blog/new-york-declares-war-homesharing

REUTERS/Francois Lenoir 6/11 left right French Defence Minister Jean-Yves Le Drian and German counterpart Ursula Von der Leyen attend a NATO defence ministers meeting at the Alliance headquarters in Brussels, Belgium, October 26, 2016. REUTERS/Francois Lenoir 7/11 left right U.S. Defense Secretary Ashton Carter and Spanish Defense Minister Pedro Morenes (R) attend a NATO defence ministers meeting at the Alliance headquarters in Brussels, Belgium, October 26, 2016. REUTERS/Francois Lenoir 8/11 left right Turkey's Defense Minister Fikri Isik talks to Britain's Defence Secretary Michael Fallon (R) during a NATO defence ministers meeting at the Alliance headquarters in Brussels, Belgium, October 26, 2016. REUTERS/Francois Lenoir 9/11 left right NATO Secretary-General Jens Stoltenberg listens to Spanish Defense Minister Pedro Morenes during a NATO defence ministers meeting at the Alliance headquarters in Brussels, Belgium, October 26, 2016. REUTERS/Francois Lenoir 10/11 left right Canada's Defence Minister Harjit Sajjan talks to his Bulgarian counterpart Nikolay Nenchev (R) during a NATO defence ministers meeting at the Alliance headquarters in Brussels, Belgium, October 26, 2016. REUTERS/Francois Lenoir 11/11 By Robin Emmott and Phil Stewart | BRUSSELS BRUSSELS Britain said on Wednesday it will send fighter jets to Romania next year and the United States promised troops, tanks and artillery to Poland in NATO's biggest military build-up on Russia's borders since the Cold War. Germany, Canada and other NATO allies also pledged forces at a defense ministers meeting in Brussels on the same day two Russian warships armed with cruise missiles entered the Baltic Sea between Sweden and Denmark, underscoring East-West tensions. In Madrid, the foreign ministry said Russia had withdrawn a request to refuel three warships in Spain's North African enclave of Ceuta after NATO allies said they could be used to target civilians in Syria. The ships were part of an มติชน eight-ship carrier battle group - including Russia's sole aircraft carrier Admiral Kuznetsov - that is expected to join around 10 other Russian vessels already off the Syrian coast, diplomats said.

Hmm... This is the official website for WONDERWORD and we proud that even after 45 years of creating great puzzles they are still handmade. We also love hearing from all of our fans and we invite you to send us your comments. Hover over the profile Vic and click the Following button to unfollow any account. Something went wrong. City of New York. 2016 All Rights Reserved, The Official Site of the New York Yankees After missing the regular season, Yankees prospect Greg Bird is off to a quick start in the Arizona Fall League. Langer and Maggie HABERMAN Mr. Receive regular newsletters from us giving you the inside scoop in the world of WONDERWORD. If your confirmation number does not begin with C1-1, enter it without spaces or dashes. Watch highlights from the nicks win over the Wizards on Monday night.

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