As serious accidents among America's air carriers have mounted in 1989, a "conventional wisdom" has supplied a plausible account of the historical roots of the present safety problem. In 1978, the Federal government de-regulated the U.S. airline industry. Faced with an increasingly competitive environment, individual carriers tried to hold down fares by making cost-related cuts in policies and procedures related to safety. Many have argued that, "increased competition may lead airlines to skimp on investments in safety,"(Bornstein and Zimmerman p.913) by, for example, allowing aging planes to take to the skies following... [continues]
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