Thank Deregulation


#1

Good stuff here in a kind of history lesson about avaiation explaining how freeing a market leads to lower prices and prosperity.

Flying was a luxury because it was expensive, and it was expensive largely because of detailed federal economic regulations governing how air carriers could operate and, importantly, what they could charge. The government treated airlines as a kind of public utility and regulated them under the rationale that dog-eat-dog competition would threaten profitability and lead to skimping on safety.