The Economic Naturalist's Field Guide by Robert H. Frank

Author:Robert H. Frank
Language: eng
Format: epub
Publisher: Basic Books

IN the summer of 1978, I left my teaching position at Cornell to serve for the next two years as chief economist for the Civil Aeronautics Board in Washington, D.C. The CAB, now defunct, had just launched the process of deregulating the nation’s commercial air transport system under the leadership of its chairman, Alfred Kahn.

With deregulation came substantial fare reductions and increases in traffic, much to the delight of the traveling public. Over time, however, increased traffic led to increased congestion and delays. Many travelers now seem to believe air transport deregulation may have gone too far. In the following selection, I argue that the reverse is true. Much of the congestion that chokes the current system is the result of the Federal Aviation Administration’s failure to charge airlines prices that reflect the market value of landing and takeoff rights at the nation’s most congested airports.

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