Saturday, July 05, 2008 | 12:25 p.m.

The Conceit of the Regulators

by John Stossel

Unless the government watches closely, the airlines will kill you.

That seems to be what many reporters and politicians believe.

"The result of inspection failures and enforcement failure [by the Federal Aviation Administration] has meant that aircraft have flown unsafe, un-airworthy and at risk of lives," says Rep. James Oberstar, chairman of the House Transportation Committee (http://tinyurl.com/6hzg6h).

"The FAA has clearly displayed a dangerous and cava ...

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1 Comments | Post Comment
Posted by: Jasmine
Comment: #1
Wed Apr 30, 2008 4:56 AM

Mr Stossel, Extremely well-written article. However there is one paragraph that surrenders your argument that I would definitely delete: [Clifford Winston and Robert W. Crandall of the Brookings Institution write: "[T]he fundamental problem with most regulation is that the regulatory agency does not have sufficient information, flexibility and immunity from political pressure to regulate firms' behavior effectively. Fortunately, the market, and in some cases the liability system, provide sufficient incentives for firms to behave in a socially beneficial manner."] I would definitely rethink through to the essentials what they are saying and whether it is not the exact opposite of your entire article and actually makes people like Obestar right? Think about it and check the premises of Winston and Crandall.

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