Wednesday, January 03, 2007

Plain-old Protectionism

Every day, vast sums of capital wash up on our shores, buying bonds, condos, and companies. And every day, vast sums of capital flee our borders, destined for foreign stocks and bonds, oil fields, and factories. The massive flows are one of the distinguishing factors of our commercial culture, and a huge competitive advantage for the United States.

And yet sometimes misplaced hostility to foreigners, national-security paranoia, and plain-old protectionism can damage American consumers and leave domestic industries hidebound. That's exactly what is happening in the airline sector, where an incredibly foolish law has barred foreigners from taking over American air carriers.

Read more from
the article "Air Heads: The stupid law that prevents foreigners from buying U.S. airlines" in Slate.

1 Comments:

At 1/03/2007 9:58 PM, Anonymous Sudha Shenoy said...

I can endorse the observation that US airlines simply can't compare with many overseas airlines when it comes to service & amenities. Try flying Singapore & then see if you want to even look at an American airline again.

 

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