Since the enactment of the Airline Deregulation Act in 1978, questions that had been at the heart of the ongoing debate about the industry for eighty years gained a new intensity: Is there enough competition among airlines to ensure that passengers do not pay excessive fares? Can an unregulated airline industry be profitable? Is air travel safe? In this book, Steven A. Morrison and Clifford Winston assert that all too often public discussion of the issues of airline competition, profitability, and safety take place without a firm understanding of the facts. The policy recommendations that emerge frequently ignore the long-run evolution of the industry and its capacity to solve its own problems. The authors identify the problems the industry faces, assess their severity and their underlying causes, and indicate whether government policy can play an effective role in improving performance. They also develop a basis for understanding the industry's evolution and how the industry will eventually adapt to the unregulated economic environment. Morrison and Winston maintain that although the airline industry has not reached long-run equilibrium, its evolution is proceeding in a positive direction - one that will preserve and possibly enhance the benefits of deregulation to travellers and carriers. They conclude that the federal government's primary policy objective should be to expand the benefits from unregulated market forces to international travel.
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Most Helpful Customer Reviews
21 of 22 people found the following review helpful:
5.0 out of 5 stars
I highly recommend this book it is very well researched.,
By pareto1@ix.netcom.com (New Jersey) - See all my reviews
This review is from: The Evolution of the Airline Industry (Paperback)
This is the Author's second book on the subject, and both books are excellent (they have written numerous journal articles on the subject). Their treatment of air fares and hubs is particularly good. Their bottom line findings: deregulation has increased economic welfare, and the financial turbulence the industry faced in the early 90 was the result of an oversupply of equipment (the major carriers didn't forecast the impending recession and consequently ordered too many planes). I highly recommend this book it is very well researched.
11 of 12 people found the following review helpful:
5.0 out of 5 stars
Excellent expository thesis,
This review is from: The Evolution of the Airline Industry (Paperback)
I will admit that this book is not for everyone. The casual airline enthusiast may have some difficulty sifting through the econometrics. This book is written more for academics. However, the concise, clear, well-written style leads me to no other conclusion but to rate this as an excellent book. The hypotheses are clear. The data is explained. Economic reasoning is used to posit their point. If you wish to know how economists look at and measure deregulation, then this book is a good choice. Indispensable for grad students in economics studying transporattion and/or regulatory issues.
13 of 17 people found the following review helpful:
3.0 out of 5 stars
Good facts, but some conclusions are questionable,
By A Customer
Amazon Verified Purchase(What's this?)
This review is from: The Evolution of the Airline Industry (Paperback)
Lots of facts, but not much depth to them. Essentially their conclusions are that de-regulation has been a fanstastic success. If you read "Airline Management Strategies for the 21st Century,(a better book)" draws different conclusions. I think some of their analysis is shoddy and kind of shallow. Still, its got some good facts, and worth a read.
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