This paper looks at the history of government involvement in the airline industry, noting that even with deregulation, the government still maintains significant regulatory authority.
Written in 2002; 2,637 words; 9 sources; MLA; $ 79.95
Paper Summary:
The writer takes an historical look at the way in which the government has eased its hold on the airline industry. The paper shows how this form of deregulation has led the airline industry, which employs nearly two million people, to be overwhelmed with competition and the lowering of prices.
From the Paper:
"Economic deregulation has been described as ?? the state's withdrawal of its legal powers to direct the economic conduct (pricing, entry and exit) of non-governmental bodies.? (Winston, 1993, quoting Stigler). Regulatory reform has become a significant trend in economic policy since the 1970s. The airline industry stands out as a significant example of this trend: formerly almost completely regulated, it has been and continues to go through a process of deregulation and review pending possible re-regulation at both the national and international level."
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