Tuesday, December 28, 2010

Alfred Kahn, 1917-2010

Occasionally, the economics profession contributes a hero to society. Alfred Kahn, who led the effort to deregulate the airline industry in the late 1970s and who had a long, productive and admirable career at Cornell University, was one of those heroes.

Bloomberg reports the sad news of his passing.

Kahn's principal legacy was a much more (though not perfectly) competitive airline industry and the lower fares, greater choice, and yes, greater uncertainty that brought.