``...but where exactly did that money go?'' Joanna
``That's a very good question. I'm guessing here, but some of it may be a revenue issue - periods of competition led to below-cost pricing, led to failures, then temporary monopolies, followed by more cutthroat competition, etc. Also, even though flying got suckier for customers, it may be more costly for the airlines to get someone from NY to SF via St Louis than nonstop, even if it served some weird competitive purpose....'' Doug
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This gets to something I've never understood about market ideology. Most of it doesn't lead to higher profits, but bankruptcy. And worse, just as a low worker, I could see that much of the crap dished out as reasons for this or than new move to screw me, would not improve the bottom line. It was just bullshit. For example, working faster for less, kills motivation, just generates more mistakes and careless work. Taken all together the whole will come back to strip away any profit gain through these regimes. So, what's with that?
And, what was the point for all this de-regulation crap? Or any of the other neoliberal nonsense---which from my view was counter to common sense business practice in the first place.
It just goes on and on. You don't need to study Marx to understand that giving the rich more billions who just gambled away billions, is a bad business plan. So what the fuck?
CG