[ad_1]
I flew Southwest Airways from LAX to San Jose yesterday and the serviette I used to be handed with my drink introduced again fond reminiscences. From about 1973 on, after I took George Hilton’s class in transportation economics, I turned an evangelist for deregulation of airways. I used to have a bumper sticker on my briefcase that stated:
Decontrol Air Transportation: Floor the CAB.
CAB, after all, stands for Civil Aeronautics Board.
After I argued for deregulation, Exhibit A was Pacific Southwest Airways (PSA) in California and Exhibit B was Southwest Airways in Texas. Each confirmed how competitors would work to make fares decrease for passengers.
After I was a summer season intern in 1973 on the Council of Financial Advisers underneath Herb Stein, Herb made me an appearing senior economist for the month or so between when Bob Tollison left and his substitute, Alan Pulsipher, arrived. I used to be attending conferences on airline deregulation with the Undersecretary of Transportation. Herb urged after I reported on one in every of these conferences that we drop the problem as a result of it appeared hopeless and our restricted sources could be higher used elsewhere. I argued that we should always stick with it as a result of it was utilizing only some hours of my week every week. I truly persuaded him. I nonetheless really feel happy with that.
For extra on airline deregulation, see Alfred E. Kahn, “Airline Deregulation” in David R. Henderson, ed., The Concise Encyclopedia of Economics, 1st version and Fred L. Smith, Jr. and Braden Cox, “Airline Deregulation” in David R. Henderson, ed., The Concise Encyclopedia of Economics, 2nd version.
Notice: The hyperlink to Tollison has incorrect data. He was a senior economist from 1972 to 1973, not from 1971 to 1972.
[ad_2]
Source link