3 ms·

lawmakers think they know more about pricing products than the marketplace? That will end well.

• gamblor956 8y ago
  Interestingly enough, airlines and utilities were at their most profitable when the government regulating agencies set the rates. Once their industries were deregulated, most of these companies went out of business and have had more years of loss than profit. As it turns out, sometimes the government does know better than private companies. In general, in any situation dealing with a utility-type service (including transportation), the government has a better bird's eye view than any of the participants and more of an incentive to maintain the quality/availability of service over the long-term than any of the short-term-profit-seeking participants.
  • pitaj 8y ago
    It may have been better for companies, but was it better for customers? It sounds like the bureaucrats set the price too high, which created a surplus. Almost all customers of airlines want lower prices, not more amenities.