Airline deregulation is a failure, conclude Professors Dempsey
and Goetz. They assault the conventional wisdom in this provocative
book, finding that the Airline Deregulation Act of 1978, championed
by a profound political movement which also advocated the
deregulation of the bus, trucking, rail, and pipeline industries,
failed to achieve the promises of its proponents. Only now is the
full impact of deregulation being felt. Airline deregulation has
resulted in unprecedented industry concentration, miserable
service, a deterioration in labor-management relations, a narrower
margin of safety, and higher prices for the consumer.
This comprehensive book begins by exploring the strategy,
tactics, and egos of the major airline robber barons, including
Frank Lorenzo and Carl Icahn. In separate chapters, the strengths,
weaknesses, and corporate cultures of each of the major airlines
are evaluated. Part Two assesses the political, economic, and
social justifications for New Deal regulation of aviation, and its
deregulation in the late 1970s. Part Three then addresses the major
consequences of deregulation in chapters on concentration, pricing,
service, and safety, and Part Four advances a legislative agenda
for solving the problems that have emerged. Professors Dempsey and
Goetz advocate a middle course of responsible government
supervision between the dead hand of regulation of the 1930s and
the contemporary evil of market Darwinism. The book will be of
particular interest to airline and airport industry executives,
government officials, and students and scholars in public policy,
economics, business, political science, and transportation.
General
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