Capitalism
In America we believe in capitalism and free trade. The intent of regulation was purely to protect the conduits of business. Regulation was abolished since it only protected a gluttonous system that stunted our GNP through huge ticket prices. Since then free trade has worked to reduce ticket prices and to increase the variety and frequency of flights nationwide. There is no way the government would reinstall regulation now just to protect the fat paycheck tradition in the airlines. The price of a ticket from LAX to NYC would jump to $2500 in coach or more. The public wouldn't stand for it either. That genie is out of the bottle.
SKyHigh