Worsening Pilot Shortage
06-11-2014, 12:55 PM
#91
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Position: ERJ, CA
Posts: 718
Originally Posted by tom11011
Your posts continue to impress.
06-11-2014, 02:00 PM
#92
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Joined APC: May 2006
Position: ATP, CFI etc.
Posts: 6,056
Originally Posted by Electra
The problem here is that everyone foaming at the mouth about pilot shortages actually believes the fairy tale that we live in a free market economy and that the supply/demand price curve from Econ 101... works anymore...
... The entire paradigm is probably going to have to shift, again, just don't hold your breath waiting for that raise.
06-11-2014, 02:20 PM
#93
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Position: RJ right-seat warmer
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Originally Posted by Cubdriver
Right. It will shift because it is not in keeping with classical economic theory. The regional airline business model exploited the abundant supply of cheap pilot labor in this country to make money, a supply which is quickly drying up because of the failure of the industry to provide upward mobility to its pilot employees. Other factors such as increased training costs has also entered the equation, but many industries employ professionals carrying high educational burdens with them to the job and that is not the real problem. What will it take to shake the price point free is anyone's guess, but it will happen.
Plus, classical economic theory also assumes all actors are purely rational, which is far from the case. When you've got hundreds of thousands of people who simply love to fly, and who derive emotional satisfaction from flying that to some degree compensates for their decreased wages, you have what classical economists would call an 'irrational actor.' We just call it SJS
(I majored in economics at Princeton and also have a master's in it, but sadly after 20 years I can't say I remember much)
06-11-2014, 04:26 PM
#94
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Position: ERJ, CA
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Originally Posted by kfahmi
One crucial thing missing from classical economic theory is that it assumes all players have perfect information, and that is most certainly not the case. Dangle the keys to an RJ in front of a 250-hour AllATPs grad, and he/she most likely won't come on these forums and learn the realities of the profession before accepting.
Plus, classical economic theory also assumes all actors are purely rational, which is far from the case. When you've got hundreds of thousands of people who simply love to fly, and who derive emotional satisfaction from flying that to some degree compensates for their decreased wages, you have what classical economists would call an 'irrational actor.' We just call it SJS
(I majored in economics at Princeton and also have a master's in it, but sadly after 20 years I can't say I remember much)
Plus, classical economic theory also assumes all actors are purely rational, which is far from the case. When you've got hundreds of thousands of people who simply love to fly, and who derive emotional satisfaction from flying that to some degree compensates for their decreased wages, you have what classical economists would call an 'irrational actor.' We just call it SJS
(I majored in economics at Princeton and also have a master's in it, but sadly after 20 years I can't say I remember much)
Thanks for posting that. I use that perfect information argument all the time, to argue with all the "100% free marketers" out there.
Although, the amt. of info available now is playing a large part in combating SJS. The market is NOT rational; just look at the average investor for proof of that. It's also up to us to educate the newbies as much as possible. 14 years ago, i didn't have this kind of info.
06-11-2014, 04:44 PM
#95
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Position: CRJ
Posts: 249
Originally Posted by bedrock
Thanks, but I just do some reading, listening, observing and thinking. I didn't realize all this by myself. I did come to the realization, however, that our country is now run by/for just one scam-racket after another.
06-11-2014, 06:38 PM
#96
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Joined APC: Apr 2014
Position: RJ right-seat warmer
Posts: 632
Originally Posted by AZFlyn1
I wish I could say you were wrong, but I've come to the same realization.... A lot of what's going on in this country now is sad.
We just do a better job of pretending that this country isn't actually run by a corporate oligarchy. Sometimes the facade slips, though...
06-11-2014, 07:51 PM
#97
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Posts: 547
Can't remember seeing it in this thread but the drying up of feed to various communities plays into a larger plan to get congressional constituents on board to finance the solution to the crisis of a dwindling supply of cheap pilots.
06-11-2014, 08:06 PM
#98
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Originally Posted by Spoiler
Can't remember seeing it in this thread but the drying up of feed to various communities plays into a larger plan to get congressional constituents on board to finance the solution to the crisis of a dwindling supply of cheap pilots.
Secondly, I don't believe there will be too many congressmen willing to face the Colgan 3407 families and tell them they are reducing the ATP requirements because they are inconvenient. I think the new law will be with us for quite some time. My .02
06-11-2014, 08:25 PM
#100
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Posts: 184
Originally Posted by Osprey216
If the job didn't suck horribly more people would be willing to do it, as it stands this job SUCKS, and will never get better, therefore there is no reason to do it.
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