By some estimates, the U.S. airline industry has lost $20 billion in the three decades since deregulation, even as local economies have flourished in the communities the airlines serve. MIT's Bill Swelbar discusses the effects that the highly competitive aviation sector has had on local communities. In what he promises is a series of posts regarding deregulation of the airline industry, he notes: "In some circles, there are calls for re-regulation. But this ignores the fact that the federal government already heavily regulates this so-called 'deregulated' industry, so it is unlikely that further regulation is the answer."

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