Robert W. Poole, a founder of the libertarian reason magazine and its director of transportation issues, comes full circle after nearly 50 years and again writes about airline deregulation. The U.S. government’s Civil Aeronautics Board used to set prices and restrict entry into the industry, on the chronic assumption that, without regulation, airlines would be eager to kill their customers, undaunted by the threat of lawsuits and boycotts, and unconcerned about their reputations.
The take-aways here:
- Repeal of the Civil Aeronautics Board was achieved by Democrats, notably Teddy Kennedy.