-
they were up against airlines like Southwest
-
which had no legacy costs and ran very efficiently.
-
Finally, antitrust.
-
Antitrust emerges in the states
-
with the Sherman Antitrust Act of 1890 and is--
-
there is a continuous oscillation in government policy here
-
and in most other market economies,
-
between strict and not so strict
-
interpretation of what counts as a monopoly,
-
and what counts as predatory monopolistic behavior.
-
When we get to cases
-
we will see several specific instances of this.