Deregulation had far less impact on prices than people generally quote. Getting out of the energy crisis did a lot to shift prices quickly which made it seem like deregulation was suddenly working. https://en.wikipedia.org/wiki/1970s_energy_crisis
Longer term Airlines got a lot better and a lot cheaper worldwide at roughly the same rates because things like fuel economy and engine maintenance timescales skyrocketed.
The general consensus among economists is that deregulation had a big effect on airline prices. For example:
>...Every serious study of airline deregulation in the intervening years has found that travelers have indeed benefited enormously. As we documented in our 1995 Brookings book, The Evolution of the Airline Industry, airfares, adjusted for inflation, fell 33 percent between 1976—just before the CAB instigated regulatory reforms—and 1993. Deregulation was directly responsible for at least 60 percent of the decline—responsible, that is, for a 20 percent drop in fares. And travelers have benefited not only from low fares, but from better service, particularly increased flight frequency.
A 20% drop on its own is 20%, but if prices fell 33% it requires a separate 16.25% drop not a 13% drop. Meaning deregulation was responsible for 55% of the total decline for the numbers to work out.
PS: If they’re confused or lying in just that blurb I’d question the rest of their analysis.
My general feeling is always that if someone is going against the consensus of the experts who have studied something (whatever the issue is - it could be climate change or GMO food or effects of airline deregulation or whatever) I think the burden of proof is on the person who claims the experts are all wrong.
I am not an expert, just recalling the latest thing I heard/read about the subject but I think we can both agree that in the 1950-1960s inclusive, flying was not egalitarian as it was after the changes in operating environment we discuss.
Yeah I mean you hear about what a lot of airlines were like and many domestic first/business class seemingly don't even compare despite energy costs were significantly higher.
Which is why I said less of an impact not zero impact.
Regulators didn’t set floor prices to wildly unreasonable levels. So yes, it did modestly lower prices and service quality because airlines now competed in different ways. But we’re talking the difference in the cost of an inflight meal etc not some wildly different number. For that you needed wildly more efficient aircraft from other companies.
Post regulations we also got lots of bankruptcies and bailouts which shifted costs from consumers to taxpayers.