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Wikimedia Commons, Frank Sinatra's "Come Fly With Me" was the very popular album in the United States for five weeks in 1958, but the irony of its popularity (or, perhaps, the source of its aspirational appeal) is that almost none of us might take up the offer to "move, starry-eyed" on an aircraft with any person in those days.

There was a simple factor. Flying was absurdly expensive. And there was easy reason flying was ridiculously pricey. That was the law. There are  Look At This Piece  to outline the U.S. economy in the last 30 years, but here's a happy story for everybody (other than the airlines), from extreme capitalists to the most liberal customer supporters.

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Airfares have fallen by about 50 percent given that 1978... and, even after you include the recent uptick in charges, the per-mile cost of flying has also been chopped in half. A pleased story for consumers isn't always a happy story for the airline company market, which bled a remarkable $51 billion in between 2001 and 2011 and lost cash in every other year considering that 1981.

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Prior to 1978, the airlines played by Washington's rules. The government determined whether a new airline might fly to a certain city, charge a specific rate, or perhaps exist in the very first location. With minimal competition, airline companies were ensured a profit, and they lavished leaflets with pricey services paid with expensive airlines tickets.

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With rates increasing throughout the energy crisis of the 1970s, a dream team of senators and economic experts decided that Washington ought to leave the company of coddling the airline companies. Let's hear from a young previous aide to Sen. Ted Kennedy named Stephen Breyer (oh, yeah, that Stephen Breyer) examining the free enterprise case for letting airlines fly solo: In California and Texas, where fares were unregulated, they were much lower.

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And an intra-Texas airline boasted that the farmers who used to drive across the state could fly for even less cash-- and it would bring any chicken coops totally free. Three years later, the lesson from Texas-- if you deregulate the skies, ticket prices will fall-- has been used across the nation.