Deregulation

Airline Deregulation Act of 1978. US deregulated many rules around aircrafts in that year, making the competition more free. The effective is lower airfares, increased travel volumes, and economic growth. Pretty good!

Evaluation

• Safety. Capitalism can take shortcuts.
• New jobs in newer sectors. However also loses old jobs
• Thin profit margins that cannot shield from supply shocks like 9/11 and Covid 19.