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.

Chris Hopkins

Chris Hopkins, CFA, is Vice President and Portfolio Manager for Barnett & Company. He is a native of Whittier, California and has lived in Chattanooga since 1988. He began his career in finance in 1998, following twenty years in manufacturing management. Chris joined Barnett & Company in 2004. He served for twelve years an adjunct professor of Finance at UTC, and writes a weekly column for the Chattanooga Times Free Press on finance and economics. He is currently president of the CFA Society of East Tennessee, and is a member of the North Carolina and South Carolina CFA Societies as well as the National Association for Business Economics. He presently serves as city council representative on the Chattanooga fire and police pension board, and is member of the finance committee for the AIM Center. Chris holds the Chartered Financial Analyst (CFA) professional designation. He received Bachelor’s degrees in Physics and Economics from California State University at Fullerton, and earned his MBA from the University of Tennessee at Chattanooga.
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