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To: ratan lal who wrote (143898)	9/21/2001 1:07:18 AM
From: fingolfen	Respond to of 186894

Similarly, if we get away from the free enterprise system, by bailing out the airlines and other sick industries, then we are bound to get into trouble. before you know it other influential persons will start asking for bailouts and handouts for various reasons. Remember the 'oil depletion allowance'? Worst idea but they got away with it and the oil barons made billions that ordinary taxpayers had to fork over from their small incomes. That argument holds true for a lot of industries, but the airline industry isn't "capitalism as we know it." The industry is heavily regulated by the government. A fair portion of the current financial crisis was caused by the government saying "you can't fly planes until we say so." There are substantial barriers to entry in the airline industry (i.e. if I wanted to go start an airline tomorrow I couldn't do it... that's one of the pre-requisites for a "free enterprise / market system"). In short, the airline industry ISN'T a free market system. It therefore shouldn't be treated as such. It has been directly damaged by foreign intervention and government intervention. A market system is very bad at dealing with those types of externalities.