beginning of change in national mood towards a laissez-faire government with less regulation and more free market approaches. The deregulation of airline pricing proved that increasing competition by allowing market forces to drive supply and demand could be very beneficial to consumers without severely hindering the suppliers. "The total welfare gain from [price] deregulation was positive, and quite large." While the government effectively deregulated pricing in airline industry, airport landing slots remain under regulation of the FAA. Since the early 1980's, the FAA has faced increased criticism over the effectiveness of this regulation, yet no resolution has emerged.
In conjunction with the mounting pressures from pro-market officials and the sheer administrative burden of allocating the slots, the FAA established a one-time temporary market in 1982-whereby airlines could freely buy and se
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