“The new American Airlines resulting from the deal would boast revenues of close to $40 billion and offer nearly 7,000 flights per day. Interested observers should ask what makes such mergers possible and whether they are the results of legitimate, free market competition, or something else entirely. Airlines epitomize a system of big business cartelization that grows up out of huge cost barriers to potential market challengers created by legal and regulatory requirements. Contrary to the rhetoric of ‘unbridled’ markets, airlines are among the corporations most entangled in federal regulatory structures — and that’s just the way they like it.”
Related posts:
Will Grigg: "This Isn't America" -- You Can't Say That Here
Westerners Kidnapped in North Africa — but Is France the Real Target?
Body Cameras Are for the Benefit of Prosecutors, Not You
Should Advocates of Small Government Escape to Canada?
Extraordinary Directed History of the WTO Trade Breakthrough
Warren Buffet Bails Out of Muni Bonds
Small Banks Disappear. So Do Loans to Small Businesses.
No More Solyndras? Not Quite
Bill Bonner: What does money represent?
Snap! Crackle! Pop!…Goes the Student Loan Bubble!
Biden’s and Carney’s Vacuous Justifications for Bombing Syria
Illegal Drugs: The great experiment
Consequences of Power
Pepe Escobar: Towards a Snowden endgame
Egypt: What a Shame