15 October 2006
The other day the BBC's Money Programme was complaining that the big trans-Atlantic airlines were running a price-fixing cartel. At no point did they manage to suggest that one of the reasons that the airlines were acting like a cartel might have been because (as Michael Jennings has explained) they are a cartel and a government-created cartel at that. I suppose most of the arguments that apply to monopolies (warning: placeholder) also apply in this case.

Patrick Crozier • PermalinkFeedback (0)Air Miscellaneous

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