Up In the Air

If the letter, below, in USA Today is any evidence, this retired pilot for Continental Airlines has a better intuitive grasp of the economic way of thinking than does, alas, the typical PhD economist.  Cap't. Green correctly predicts that the so-called "Airline Passengers' Bill of Rights" will raise the cost of flying – both directly in the form of higher air fares and indirectly in the form of fewer flights and more flight cancellations and delays.

Such legislation is a classic example of...