Frontiers of Cost-Benefit Calculations
A little more than a year ago, in response to a Wall Street Journal article on airline travelers’ lost luggage, an insightful reader offered a more in depth analysis:
“Airlines lose luggage because there is no incentive to correct the problem. It would cost money to fix the broken systems, and there is no meaningful penalty on airlines that lose baggage because our government allows airlines to pay pennies on the dollar for what is lost. Even worse, the threat of lost luggage actually benefits the airlines by forcing passengers to avoid checking luggage.”
Armstrong, Arthur O. 2007. “Perpetual Curse of Lost Luggage.” Wall Street Journal (27 January): p. A 5.
I have not heard whether or not the paper ever hired this contributor.
25 – The Confiscation of American Prosperity: From Right-Wing Extremism and Economic Ideology to the Next Great Depression
30 – Manufacturing Discontent: The Trap of Individualism in Corporate Society
Class Warfare in the Information Age
Railroading Economics: The Creation of the Free Market Mythology
Steal This Idea: Intellectual Property Rights and the Corporate Confiscation of Creativity
The Invention of Capitalism: Classical Political Economy and the Secret History of Primitive Accumulation
The Perverse Economy: The Impact of Markets on People and the Environment
