My favorite:
You f**ing academic eggheads! You don't know s**t. You can't deregulate this industry. You're going to wreck it. You don't know a goddamn thing!That was Robert Crandall, boss of American Airlines, to an unnamed Senate lawyer in 1971.
You know, economists live for that kind of reaction.
About 8-9 years ago, I got involved in the repeal of the Wright Amendment that protected AA at DFW airport from competition by restricting flights from nearby Dallas Love Field. I am proud that I received a similar sentiment from Mr. Crandall in an email.
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