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Many have argued that, "increased competition may lead airlines to skimp on investments in safety,"(Bornstein and Zimmerman p.913) by, for example, allowing aging planes to take to the skies following routine inspections rather than replacing them with new craft. But there is an overarching problem with this explanation: 1989's accidents apart, empirical data suggest that it is currently safer to fly on a plane operated by a major U.S. air carrier than it was ten years ago! In 1978, the odds of a large airliner's becoming involved in fatal crash were one for every million aircraft departures; ten years later, that proportion has dropped to around one in every 2...
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