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Old 11-18-2009 | 05:13 AM
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Fritzthepilot
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Originally Posted by likeitis
3) The first requirement of capitalism is that the parties are ethical. Many of our problems across all areas and especially Wall street is the completely failure of ethics in those in position of leadership. Truth is definitely stranger than fiction when you have some idiot on Wall street claiming to do the work of god. There are many things that I can do with an aircraft that are perfectly legal but extremely stupid. It appears that these leaders never learn the difference.
Well, the cow's outta the barn on this one. Here is a couple of Q&A's with Jeff Shane, who is negotiating Open Skies for the Dept. of State. To read the full story, go to Agenda For Freedom

8. Rather than liberalizing the industry, would it not just be better to re-
regulate?

• The de-regulation process started three decades ago. Consumers have
benefited from the resulting competition with lower fares and greater access to
travel than ever before.
• The policy of deregulation was left half-finished. International aviation is still
regulated by outdated restrictions on ownership and access to capital and
markets that no other industry faces.
• The result of these restrictions is a fragmented industry that cannot recover its
cost of capital. Re-regulating the industry would reverse the positive impact of
greater accessibility to consumers and will still leave airlines without the tools
needed to build global businesses that are financially sustainable.


9. What will the impact of liberalization be on jobs?

• Agenda for Freedom is about moving away from a regulatory system in which
flags and government agreements determine the scope of an airline’s business.
To be financially sustainable, the airline industry must be free to run on the basis
of good global business. Anything that helps the financially sustainability of a
company also helps to ensure stable employment. The current model
(insufficiently liberalized) obviously does not.

10. What will be the impact of the Principles on consumers?

• Consumers benefit from liberal markets. Look at what has happened in the
wireless telecoms industry. Global businesses have developed around global
brands. The industry is intensely competitive and access to wireless
communications is greater than ever. Building an industry on the principles of
liberalized access to capital and markets without ownership restrictions is good
policy serving equally the interest of consumers and businesses.
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