American Airlines pilots want managers replaced over flight disruptions

Pilots talk as they look at the tail of an American Airlines aircraft at Dallas-Ft Worth International Airport. Mike Stone | Reuters American Airlines pilots’ union says that company managers should be replaced because of the hundreds of flight disruptions that affected tens of thousands of customers this year. The board of directors of the Allied Pilots Association this week approved a resolution that calls on the company to change out the managers responsible for the airline’s operations, saying that staff failed to provide a reliable service and in turn,…

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Austrian Economics and Scientific Realism

Uskala Mäki is one of the leading philosophers of economics of the past half century; moreover, he is well versed in Austrian economics, though not an adherent of the school. In this week’s column, I’d like to consider some issues he raises in his paper “Scientific Realism and Austrian Explanation” (Review of Political Economy, 1990). Mäki is unsympathetic to what he calls “instrumentalism,” the view that economic theories aren’t true descriptions of the world but rather aim at predictive success. He supports scientific realism, according to which economic theories do…

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Delta wants other airlines to share ‘no-fly’ lists of unruly passengers

Passengers wearing protective masks wait to board a Delta Air Lines Inc. flight at Hartsfield-Jackson Atlanta International Airport in Atlanta, Georgia, U.S., on Wednesday, April 7, 2021. Elijah Nouvelage | Bloomberg | Getty Images Airlines have banned hundreds of passengers for unruly behavior since the start of the pandemic. Delta Air Lines wants carriers to share those lists. The Atlanta-based carrier has asked “other airlines to share their ‘no fly’ list to further protect airline employees across the industry — something we know is top of mind for you as…

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Is an Educated Population Really Necessary for Innovation and Growth?

Lamentations that the waves of innovation are receding have engulfed policy circles. Distinguished economist Robert Gordon avers that the days of transformative innovations are over. Like Peter Thiel, he is disappointed at the incremental nature of modern-day inventions. The declinist thesis is predicated on the assumption that groundbreaking innovations like the steam engine, electricity, and the telephone are becoming exceedingly rare. Educing evidence to prove this observation has been quite easy, but we are less astute at understanding why innovation is declining. In his 2012 paper titled “Is U.S. Economic…

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Nike (NKE) Q1 2022 earnings beat, sales miss

Pedestrians walk past the American multinational sport clothing brand, Nike store and its logo seen in Hong Kong. Budrul Chukrut | LightRocket | Getty Images Nike shares dropped more than 3% in extended trading Thursday after the sneaker giant said supply chain congestion is hurting its business more than it previously anticipated. The sneaker giant lowered its fiscal 2022 outlook to account for longer transit times, labor shortages and prolonged production shutdowns in Vietnam. Nike now expects full-year sales to increase at a mid-single-digit pace, compared with a prior outlook…

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Too Much Inflation? Just Raise the Inflation Target!

In late August, Fed chairman Jerome Powell suggested that the Federal Reserve would begin tapering before the end of the year, an admission that price inflation was rising above the 2 percent target. Nonetheless, the Fed took no immediate action in the following month. This week, Powell again suggested a taper would begin soon, stating it would begin soon enough that the process could “conclud[e] around the middle of next year,” and maybe could begin in November. This, of course, was highly conditional, with Powell noting this taper would only happen if…

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Southwest Airlines’ next CEO says carrier will cut flights next year if staffing falls short

A passenger checks in her luggage at the Southwest Airlines terminal at LAX. Mel Melcon | Los Angeles Times | Getty Images Southwest Airlines customers suffered hundreds of cancelations, delays and other disruptions this summer as the carrier struggled with snowballing problems of bad weather and a lack of staff. Its next CEO, Bob Jordan, vowed not to repeat that. The airline is about halfway to its goal of hiring 5,000 workers this year and has already trimmed its schedule for the rest of the year to avoid further service…

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Should War Be Made “Humane”?

Humane: How the United States Abandoned Peace and Reinvented Warby Samuel MoynFarrar, Straus and Giroux, 400 pp. Samuel Moyn is a distinguished intellectual historian who teaches both history and law at Yale. His earlier books were written for an academic audience, but in Humane he has an urgent message that he wishes to convey to the general public. There has in recent years been a movement to make war more humane, especially by minimizing death or injury to noncombatants. Moyn thinks this movement poses a danger: At our stage in the…

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