Re:Boeing Disaster Proves Americans Businesses Greedy Mental...
by DonsDiscountGas on Thursday February 15, 2024 @01:31PM
(#39386389)
In addition to what tullius said:
Many people like an Econ-101 "free market", with perfect information, competition, and zero barriers to entry for competition or lock-in for customers. This never exists 100% in real life but often it's close enough. Here, not so. For aircraft construction, a specialized field with long lead times and expensive products, the barrier to entry is huge. So competition is thin.
Which is all a good argument for regulation, and why the FAA exists, maybe our aircraft safety standards need some updates.
Many people like an Econ-101 "free market", with perfect information, competition, and zero barriers to entry for competition or lock-in for customers. This never exists 100% in real life but often it's close enough. Here, not so. For aircraft construction, a specialized field with long lead times and expensive products, the barrier to entry is huge. So competition is thin.
Which is all a good argument for regulation, and why the FAA exists, maybe our aircraft safety standards need some updates.