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Probably not even relevant to the discussion at this point in the thread but...
Hey Max Powers, do you really think this is Dubya's fault? Remember Slick Willie and how helpful he was back in '97? Here's a little clip for you to help you remember..........>>
Any economist out there care to speculate as to why, when there is increased demand for a product and diminishing supply, the compensation/price for said product decreases?
Price Elasticity of Demand. This is clearly inelastic with respect to pilots (the buyer) and the income their jobs offer (the good being bought). Pilots treat flying an airplane almost like a parent treats the cost of a procedure to keep his kid alive(perfectly inelastic). Yeah it's making some applicants reconsider and turn away, but the majority still flock to these jobs.
It is for that reason that I don't buy that there is any dramatic diminishing in supply, which is sad but proves that if the regionals decided to not pay anything at all for the position of a pilot, many would still accept the job.
That compounds to the other problem, the opportunity cost issue. If there was a stable and reasonable probability of attaining and keeping the income attached to the jobs that people want and are in effect accepting low wages early on in their careers for, then it would be a reasonable economic move to pursue the pilot thing. But, when that is not true (anymore) then the opportunity cost is really high. (sh$tty QOL for years just to get furloughed, and now ¿unwilling? to start over = merry Xmas wife and kids, no college for you next year jr.) Once again, because of the inelasticity of demand people still do it. I do feel that if GA was affordable for the middle income earner it would help alleviate the problem. I know plenty of people who attempt to pursue flying professionally because they cannot afford to do it privately (myself included).
Will that sentiment change? Perhaps to certain degrees for some people, but most will keep chasing the carrot tied over their backs (major jobs) and continue fueling that inelasticity.
The solution? Hmm, ab initio perhaps? That would certainly kill off GA in this country though. Who knows.
Price Elasticity of Demand. This is clearly inelastic with respect to pilots (the buyer) and the income their jobs offer (the good being bought). Pilots treat flying an airplane almost like a parent treats the cost of a procedure to keep his kid alive(perfectly inelastic). Yeah it's making some applicants reconsider and turn away, but the majority still flock to these jobs.
It is for that reason that I don't buy that there is any dramatic diminishing in supply, which is sad but proves that if the regionals decided to not pay anything at all for the position of a pilot, many would still accept the job.
That compounds to the other problem, the opportunity cost issue. If there was a stable and reasonable probability of attaining and keeping the income attached to the jobs that people want and are in effect accepting low wages early on in their careers for, then it would be a reasonable economic move to pursue the pilot thing. But, when that is not true (anymore) then the opportunity cost is really high. (sh$tty QOL for years just to get furloughed, and now ¿unwilling? to start over = merry Xmas wife and kids, no college for you next year jr.) Once again, because of the inelasticity of demand people still do it. I do feel that if GA was affordable for the middle income earner it would help alleviate the problem. I know plenty of people who attempt to pursue flying professionally because they cannot afford to do it privately (myself included).
Will that sentiment change? Perhaps to certain degrees for some people, but most will keep chasing the carrot tied over their backs (major jobs) and continue fueling that inelasticity.
The solution? Hmm, ab initio perhaps? That would certainly kill off GA in this country though. Who knows.
Any economist out there care to speculate as to why, when there is increased demand for a product and diminishing supply, the compensation/price for said product decreases?
I guess if you come from Mesa you are right UAL is the "dream job"
Vote however you want, but wasn't it Democratic Pres Bill Clinton who PEB'ed APA back to work. American pilots went on strike for 4 minutes before Democratic Pres Clinton ORDERED the pilots back to work... Pro labor, huh!!!
We do not have friends in the White House. Presidents won't negotiate our future agreements. The only thing airline management fears is a pilot group that is not afraid to light the match and burn the place down for a fair contract. Until then, the raping and pillaging will continue.
Well BRO...
Think about yourself and your blue-collar job next time you leave a hanging chad and your repub. pals sue everybody to change the election.......
Clinton let AA walk which is something Bush won't even let a union attempt. Negotiations were ongoing and he drops a "Nobody's striking on my watch..." so management doesn't even need to bargain.
Clinton let them strike to prove the point and then let the cooler heads to the table. The threat wasn't removed early on by a president hell-bent on screwing the worker into a minimum wage job like Bush.
Leverage is what it's about......keep on voting like you are a CEO and see what you get.....