November 2009 Issue
First Word: 11/09
The LSA Support Gamble
Anyone who makes anything in the aviation business—maybe that’s everyone, actually—complains about FAA oversight and regulation. Most of these complaints don’t question the need for regulation, just its execution—FAA foot dragging, ridiculous paper shuffling and inconsistent standards from one office to the next. I have, at times, adopted a more radical view that would allow the free market to regulate general aviation entirely, with little or no FAA intervention. I will be the first to concede that my enthusiasm for Adam Smith’s invisible hand has been somewhat diminished by the fact that my retirement savings have declined by 30 percent, thanks to a lack of adult supervision in the banking industry. But I digress in a way which could lead to bitterness and recrimination and, well, who needs that?
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