Thursday, April 16, 2009
Several weeks ago, the blog mentioned a new article by Professor Michael E. Levine, Airport Congestion: When Theory Meets Reality, 26 Yale J. on Reg. 37 (2009). Those interested in reading the article can access it through SSRN here.
Readers of the blog who have followed Levine's pioneering work on airline deregulation should be interested in his scholarly essay, Why Weren't the Airlines Reregulated?, Yale J. on Reg. 269 (2005), which is also part of an extremely informative anthology published by the Brookings Institution, Creating Competitive Markets: The Politics of Regulatory Reform (Marc K. Landy et al. eds., 2007). Creating Competitive Markets presents itself as a "cautionary tale" about the application of economic theory to specific sectors in the markets and the sometimes harsh outcomes following deregulation. Essays in the volume also draw attention to what the work's editors call the "redeployment" of government controls following deregulation. Readers may also find Edward Iacobucii et al.'s chapter, The Political Economy of Deregulation in Canada, with its critical analysis of the oft-neglected topic of Canadian airline deregulation to be particularly illuminating. More information on the volume, along with a sample chapter, is available from the Brookings Institution here.