Originally Posted by
CE750
Well, and that's just it, these free market defenders forget about how many times CAL, UAL and others have been "bailed" out buy the same free market congress.... you can't play both sides of the equation.
Either de-regulate and let them fail when they're broke, or RE-REGULATE <<--- this one!
Regulation is a tool available to governments in the face of market failure.
Despite difficulties experienced by airline employees and in our case, pilots, there hasn't been a "market failure".
If the market appeared to approach failure, you can be sure the government would regulate.
In the face of difficulty, change is appealing. However, regulation would be very intricate and would have far reaching implications. Exactly what those are is difficult to foresee.
Many economists believe that economies are "self correcting". History shows that they are. We are living in frustratingly slow times but, ride it out. Things will turn around!
JJ