Originally Posted by
bbtp
I regret to inform you, but there's no "free lunch." If we were to go back to regulation, some pilots *may* get raises, but those who didn't get raises would lose their job altogether. Seeing how the supply of pilots already exceeds the demand by mainline carriers to hire them, I personally doubt there would be industry-wide raises at all. The decrease in the number of jobs under regulation would result in an even greater over-supply of pilots, leading to even more downward pressure on wages.
Well said!
Those of us who have an interest in economics realize just that. There's no such thing as a free lunch.
The fact is that world trade far exceeds world output, globalisation is the future, and deregulation is good for the consumer.
Regulation would only be considered in the case of market failure.
Unfortunately, there's no surprize here. The US energy commision knew this was coming and estimate oil supply to dry up in 2037.
Go figure.
AL