Personal Finance: Thanksgiving travel brought to you by capitalism

The uniquely American holiday we call Thanksgiving is a time during which we reflect upon our blessings and share with friends and family. But first we have to get together, and that frequently requires travel.

The very idea that so many of us routinely board a plane to visit Grandma or drag the kids to Mount Rushmore is indeed an exemplar of the power of free market capitalism, for which we should all be grateful. The democratization of travel, and air travel in particular, could not have happened without a bold decision taken in 1978: the deregulation of airfares. The result has served as a textbook example of how consumers benefit when government backs away to allow the market to allocate resources and set prices according to supply and demand.

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