Hannan proves himself wrong within the space of two paragraphs

Daniel Hannan on the Telegraph's blogs says that

Black cabs are cabin'd, cribb'd confined - bound in to a price structure that doesn't let them respond to customer demand. They raised their fares during the prosperous years (and, to be fair, the years of rising fuel prices); but are not now able to drop them to a level where they again become a viable option. It's another example of how regulation almost always makes things worse.

Black cabs are of course too expensive. But talk about defeating yourself within the space of a single, short blog post.

His previous paragraph:

Well, I was barely ever on a bus before the age of 26: they were too unreliable. Nowadays, though, I use them all the time. The improvement of bus services in London since Oyster cards came in is perhaps Ken Livingstone's sole achievement as mayor.

And why do you think they improved, Daniel? As if by magic? No, greater regulation of course.